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Two PG&E National Energy Group Power Projects Obtain New Financing Commitments From Lenders

01/10/2003

(San Francisco, CA ) - PG&E Corporation (NYSE:PCG) announced today that it had filed its second round of comments with the Federal Energy Regulatory Commission, supporting the Commission's Notice of Proposed Rulemaking (NOPR) on Standard Market Design (SMD).

In its filing, PG&E Corp. stated that the Commission's efforts to amend its market design regulations would remedy undue discrimination in the provision of interstate transmission services, and facilitate development of well-functioning electric wholesale energy markets in all regions across the nation, which will ultimately benefit consumers.

PG&E Corp. supports the Commission's SMD efforts, including:

  • Using Congestion Revenue Rights (CRRs), a system of financial rights for customers to protect against congestion costs; PG&E Corp. recommends there be a variety of CRR products available in the market.
  • Measures needed to plan and develop the transmission infrastructure essential to support competitive power markets.
  • A market design for the Western Interconnection that reduces transaction inefficiencies.
    A long-term resource adequacy requirement; PG&E Corp. recommends regional flexibility in the determination of the aggregate reliability margin.
  • The Commission's preference for a regional transmission planning process.

"PG&E Corp. supports the Commission's objective to implement structural changes to market design necessary to improve the functioning of the nation's wholesale power markets and transmission grid. [Our] comments are intended to share past experiences, provide reactions to the alternatives proposed in the NOPR, and identify areas of concern - all with the goal of assisting the Commission in its efforts to craft standardized terms and conditions of transmission service and power market operations that will benefit consumers and promote investments in infrastructure."

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