EDITORS: Please do not use
"Pacific Gas and Electric" or "PG&E" when
referring to PG&E Corporation or its National Energy Group.
The PG&E National Energy Group is not the same company as Pacific
Gas and Electric Company, the utility, and is not regulated by the
California Public Utilities Commission. Customers of Pacific Gas
and Electric Company do not have to buy products or services from
the National Energy Group in order to continue to receive quality
regulated services from Pacific Gas and Electric Company.
WILL NOT DECLARE FIRST QUARTER DIVIDEND
(San Francisco, CA) - Citing
the severe financial impact of the ongoing California energy crisis,
PG&E Corporation (NYSE: PCG) today announced it will not declare
and pay the regular common stock dividend of 30 cents per share
for the first quarter of 2001.
Future common stock dividends
will not be declared or paid until the Corporation's Board of Directors
determines that the financial health of the Company will support