BETHESDA, Md. - PG&E National
Energy Group, a unit of PG&E Corporation (NYSE: PCG), today reported
to the California State Senate's Select Committee to Investigate
Price Manipulation of the Wholesale Energy Market that it did not
engage in energy trading strategies described in Enron Corp. memos
made public last month.
In May, PG&E National Energy
Group responded to a similar request by the Federal Energy Regulatory
Commission (FERC). The company's response to FERC, as well as today's
response to the California legislature, specifically denied engaging
in the Enron strategies, providing details of the procedure it used,
with the knowledge and advice of the California Independent System
Operator, to sell electricity into the state's real-time energy
market.
PG&E National Energy Group,
based in Bethesda, Md., develops, builds, owns and operates power
production and natural gas transmission facilities and provides
energy trading, marketing and risk management services in North
America.