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PG&E Issues Statement After Bankruptcy Court Tentatively Approves Its Disclosure Statement

04/11/2002

SAN FRANCISCO - Pacific Gas and Electric Company today issued the following statement after the U.S. Bankruptcy Court tentatively approved its disclosure statement:

"Pacific Gas and Electric Company is pleased that the Bankruptcy Court has tentatively approved its disclosure statement. PG&E was able to address all the objections that were raised. Approval of the disclosure statement is a significant milestone in the utility's continued progress through the bankruptcy process."

Following are some key upcoming dates:

 
April 15
Deadline for CPUC to file its alternative plan of reorganization and disclosure statement.
  April 19 PG&E to file plan of reorganization and disclosure statement incorporating language to resolve objections.
  April 24 PG&E to submit order for approval of its disclosure statement. Status conference on CPUC's plan and disclosure statement.
  May 3 Deadline for objections to CPUC's plan and disclosure statement.
  May 9 Hearing on objections to CPUC's plan and disclosure statement.
  June 17 Target date for the beginning of the solicitation period.
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