Pilot Auction Begins Next Week

Friday, March 25, 2005

The previously announced trial auction utilizing the Pantellos Marketplace will make its debut next week. Pacific Gas and Electric Company's California Gas Transmission plans daily auctions of Gold Coast Transportation and Golden Gate Market Center products from October 18 through November 30.

CGT encourages customers to participate in this trial and provide feedback on its benefits. To be part of the action, please contact Pantellos directly by phoning Tina Barrett at 281.863.6526. Pantellos will provide all the necessary agreements, information and training.

How will the auctions be conducted?

Once an account is established with Pantellos, customers will receive an E-mail the day prior to each auction. The E-mail will describe which product will be auctioned. From 6:30 to 6:50 a.m. Pacific Time each business day, the auction will be conducted online. At the close of the auction, CGT Traders will phone successful bidder(s) to close each deal. Please note that only agreements with creditworthy bidders will be consummated.

If you have any questions about CGT's use of the Pantellos platform, please phone Cathy Paulsen.