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PG&E Names Stephen Cairns Vice President and Controller

Release Date: May 19, 2008
Contact: PG&E External Communications (415) 973-5930

SAN FRANCISCO - PG&E Corporation and Pacific Gas and Electric Company today announced that the companies' Boards of Directors have elected Stephen Cairns as vice president and controller of both companies, effective June 1.

In his new role, Cairns will be responsible for leading the accounting functions to ensure their effectiveness for the corporation and the utility. This includes overseeing SEC reporting, operations/transactional accounting, payroll, accounts payable and general ledger responsibilities, as well as compliance-related oversight for corporate and utility Sarbanes-Oxley requirements.

"This appointment underscores the capabilities of our existing management team," said Peter Darbee, chairman of the board, CEO and president of PG&E Corporation. "Stephen's depth of experience in the financial, compliance, and risk arenas positions him well to serve in this role."

Cairns joined PG&E in 2006 as senior director, Internal Auditing. In November 2006 he also took on the leadership of Compliance and Ethics. Prior to joining Pacific Gas and Electric Company, he worked for ScottishPower, where he was responsible for all aspects of internal audit in both the U.K. and U.S. Prior to ScottishPower, he worked for more than nine years for Ernst & Young in their external audit, computer audit, internal audit and business risk consulting practices, principally focusing on the utility sector. Cairns is a Chartered Accountant, the U.K. equivalent of a CPA, and holds a degree in business and finance.

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