Proposed Bankruptcy Settlement

Tuesday, March 29, 2005

On June 19, 2003, U.S. Bankruptcy Judge Newsome announced a proposed settlement agreement in Pacific Gas and Electric Company's Chapter 11 case. The proposed settlement agreement would retain California Gas Transmission's current organization as a business unit of the utility Pacific Gas and Electric Company, regulated by the California Public Utilities Commission.

The Pacific Gas and Electric Company Web site now features new information concerning the settlement and its benefits.

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