| EDITORS: Please do
not use "Pacific Gas and Electric" or "PG&E"
when referring to PG&E Corporation or its National Energy Group.
The PG&E National Energy Group is not the same company as Pacific
Gas and Electric Company, the utility, and is not regulated by the
California Public Utilities Commission. Customers of Pacific Gas
and Electric Company do not have to buy products or services from
the National Energy Group in order to continue to receive quality
regulated services from Pacific Gas and Electric Company.
CHAPTER 11
UPDATE: PACIFIC GAS AND ELECTRIC COMPANY FILES OPENING BRIEF IN
APPEAL OF TURN ACCOUNTING DECISION
(SAN FRANCISCO) - Pacific
Gas and Electric Company has filed its opening brief in the United
States District Court for the Northern District of California in
its appeal of the Bankruptcy Court's decision on the TURN accounting
order.
On March 27, 2001 the California
Public Utilities Commission (CPUC) issued a decision that required
the company to restate all its regulatory books and accounts retroactively
back to January 1, 1998.
On April 9, Pacific Gas
and Electric Company filed an action in Bankruptcy Court challenging
the CPUC's implementation of the order, under various provisions
of the Bankruptcy Code. On June 1, the Bankruptcy Court issued a
decision denying PG&E's request for preliminary injunction and dismissing
the action. In a June 25 filing, the company initiated its appeal
to the District Court.
|
2001 RELEASE
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