FYI.

********************************************************
Reuters -& CNBC

*PG&E <PCG.N> SAYS PACIFIC G&E FILED FOR CHAPTER 11 VOLUNTARY
BANKRUPTCY RELIEF


NEW YORK, April 6 (Reuters) - Pacific Gas & Electric Co., which is 
California's largest investor-owned utility and has been struggling with that 
state's power crisis, said on Friday it filed a voluntary petition for 
bankruptcy protection with the U.S. Bankruptcy Court for the Northern 
District of California. 

Trading was halted in PG&E shares on the New York Stock Exchange before the 
filing. They last traded at $11.36, down 2 cents. 

The Chapter 11 filing was disclosed in mirror filings by the utility and its 
parent, San Francisco-based PG&E Corp. <PCG.N>, with the Securities and 
Exchange Commission. 

The utility said in the filing that it "retains control of its assets and is 
authorized to operate its business as a debtor in possession while being 
subject to the jurisdiction of the Bankruptcy Court." 

A 1996 state utility law deregulated wholesale prices but capped retail 
prices. Pacific G&E has said it accumulated more than $8.9 billion of back 
debts because a rate freeze prevents it from passing on its soaring wholesale 
power costs to consumers. 

 
  
  ADVISORY/Pacific Gas and Electric Company to Hold Media Teleco 
  OTC HALT <PCG.N> NEWS PENDING LAST $11.36 
 


From: Jeff Dasovich@ENRON on 04/06/2001 11:43 AM
Sent by: Jeff Dasovich@ENRON
To: Ken Gustafson/HOU/EES@EES
cc:  
Subject: Re: fyi  

Thanks.  Where'd you hear and do you have any more info?

Best,
Jeff



	Ken Gustafson@EES
	04/06/2001 11:34 AM
		
		 To: Jeff Dasovich/Na/Enron@ENRON
		 cc: 
		 Subject: fyi

PG&E just declared chapter 11- keg