PG&E National Energy Group Tells Ferc No Natural Gas Sell/Buyback Trades


BETHESDA, Md. - PG&E Corporation's (NYSE: PCG) PG&E National Energy Group told federal regulators Wednesday that it has not engaged in "sell/buyback" natural gas trades.

PG&E National Energy Group reviewed its natural gas trading transactions during 2000 and 2001 in response to an inquiry from the Federal Energy Regulatory Commission, which issued a request for information on gas trading practices for the Western United States and Texas.

The FERC requested information involving the sale of natural gas together with a simultaneous purchase of the same product at the same price with the same counter party. The company's review found no such transaction responsive to the FERC request.

PG&E National Energy Group, based in Bethesda, Md., develops, builds, owns and operates power production and national gas transmission facilities and provides a broad range of energy trading, marketing and risk management services in North America.


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