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PG&E Joins Opposition to Proposition 23 Utility Works to Support Thoughtful and Balanced Implementation of Global Warming Solutions Act of 2006

Release Date: July 6, 2010
Contact: PG&E External Communications (415) 973-5930

SAN FRANCISCO, Calif. – Pacific Gas and Electric Company (PG&E) today announced that it will join other California business, civic, labor and environmental organizations in opposing Proposition 23, a new state ballot initiative that would suspend California's landmark Global Warming Solutions Act of 2006, also known as Assembly Bill (AB) 32.

AB 32 requires California to reduce greenhouse gas emissions to 1990 levels by 2020. Since actively supporting the passage of AB 32, PG&E has worked with the California Air Resources Board, California Public Utilities Commission, California Energy Commission and other stakeholders to make AB 32 a success and a model for other jurisdictions to follow. In particular, PG&E is working closely with policymakers on creative ways to ensure that the law's vital environmental objectives are achieved at the lowest possible cost to customers and the California economy.

Contrary to this responsible approach, Proposition 23 would suspend the law indefinitely, despite the critical need to combat climate change at the state, national and global level.

"We at PG&E are committed to helping California make progress on both its environmental and economic goals, moving us toward a low-carbon economy while minimizing the impact on customers as we make this necessary transition," said Peter Darbee, Chairman and CEO of PG&E Corporation. "Studies show that unchecked climate change could cost California's economy alone tens of billions of dollars a year in losses to agriculture, tourism and other sectors. Thoughtful and balanced implementation of AB 32 is one of the most important opportunities we have to avoid this costly outcome while spurring new clean-tech investment, innovation and job creation in California."

Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is one of the largest combined natural gas and electric utilities in the United States. Based in San Francisco, with 20,000 employees, the company delivers some of the nation's cleanest energy to 15 million people in Northern and Central California. For more information, visit http://www.pge.com/about/newsroom/.

Others Opposed to Proposition 23

State Senator Alex Padilla, Chair of the Senate Energy, Utilities and Communications Committee:
"I commend PG&E for doing the right thing and supporting California's efforts to responsibly address global warming. PG&E clearly recognizes the benefits of clean energy which includes not only emission reductions but job creation and the promise of a new green economy for California."

John Woolard, CEO, BrightSource Energy:
"California's unique combination of far-sighted energy policies and its access to world-class talent, research centers and venture funding have made the state the center of the nation's clean energy industry. Repealing California's clean energy laws would create market uncertainty and affect billions of dollars worth of investments in solar energy projects that are creating good-paying jobs and sparking new companies throughout the state. In fact, BrightSource's first project in California for the world's largest solar power plant will drive 1,000 construction jobs at peak and generate $250 million in construction earnings for California workers."

Andrew Keller, CEO, ChicoBag Company:
"California's leadership in creating a clean, green environment and economy not only helps reduce pollution, but also preserves and creates jobs in the bustling clean technology industry, which continues to grow faster than any other industry in California. And at a time when our economy is suffering and businesses are hurting, it seems ridiculous to stomp on the sector of the economy that is actually doing well."

Ed Duggan, Executive Vice President, Oak Creek Energy:
"The right business climate started to come together in 2005 and AB 32's passage was a key piece of legislation that has spurred investment in California renewable energy projects…Long-term stable policy is critical to the continued development of the renewable technology industry. If this initiative were to pass, it would very negatively impact Oak Creek Energy and the thriving clean energy industry as a whole. Our momentum would be lost and it would likely take years for our industry to recover."

Matt Golden, Founder & Chief Building Scientist, Recurve:
"California's energy efficiency and green building standards are creating a thriving market for remodeling homes to increase their efficiency and air quality. Our industry is seeing rapid growth that is putting construction workers to work at a time when home construction is stagnant. Repealing our clean energy laws could stall green building efforts, costing jobs and millions of dollars of investments at the worst possible time."

Kevin Surace, CEO, Serious Materials:
"Serious Materials is headquartered in California in large part because of the state's pioneering clean energy and energy efficiency standards. We have hundreds of employees and generate millions annually for the California economy. We are planning to add new manufacturing plants, products and hundreds of employees over the next few years. Repealing our clean energy laws would mean losing California's competitive edge in the clean technology sector, and would slow investment and job creation in this state."

Julie Blunden, Vice President, SunPower Corporation:
"California's clean energy laws have created a thriving marketplace for solar power that is generating billions of dollars in economic growth and tens of thousands of jobs. Not only are we building businesses that construct the solar systems, but we are bringing manufacturing back to California. We are leading the nation in the development of clean energy. Repealing our clean energy laws will stall economic investments and job growth in the fastest growing sector of the California economy."

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