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.