Open Season Closes Tomorrow

Tuesday, March 29, 2005

In addition to approving a settlement agreement in Pacific Gas and Electric Company's bankruptcy proceeding, today the California Public Utilities Commission issued its final decision on Pacific Gas and Electric Company's Gas Accord II -- 2004 Application, approving California Gas Transmission's 2004 Extension and Open Season.

Today's formal approval cements the dates and deadlines shown in the Revised Timeline. The most important of these dates is tomorrow, when the Open Season closes. If you would like to request Open Season capacity, you must fax your Request for Firm Service to CGT by 5:00 p.m., Pacific time, December 19, 2003. Extension and Open Season participants will have until 5:00 p.m., PT, Monday December 22, 2003, to withdraw any contract extensions or Open Season requests.

Pipe Ranger will bring you additional information about today's decision, including rates, as soon as possible. Although final rate detail is not immediately available, CGT believes the final decision adopts backbone transmission and storage rates that will closely match the rates from Corrected PD Rates.

Please contact your CGT Account Services Representative if you have any questions.