Per your request, please see the attached.








	Mike D Smith@EES
	02/14/2001 05:37 PM
		 
		 To: Michael Tribolet/Corp/Enron@Enron, Wanda Curry/HOU/EES@EES, Vicki 
Sharp/HOU/EES@EES, Robert C Williams/Enron@EnronXGate, mday@gmssr.com, James 
D Steffes/NA/Enron@Enron, Susan J Mara/NA/Enron@ENRON, Jeff 
Dasovich/NA/Enron@Enron, jklauber@llgm.com
		 cc: 
		 Subject: PG&E SEC Filing

Please see the bold language in the article below about PG&E's recent SEC 
filing.  Sounds like our "negative CTC's."  

Michael--do you have a copy of that SEC filing?  MDS


NEW YORK (Reuters) - PG&E Corp.(NYSE:PCG - news), embattled parent of Pacific 
Gas & Electric Co., said on Wednesday it is examining a restructuring of its 
bank loans and commercial paper, and that bank lenders on a $1 billion 
revolving credit facility to its California electric utility unit won't act 
upon that unit's previously announced default until March 6. 
San Francisco-based PG&E made the disclosures in a filing late Wednesday with 
the Securities and Exchange Commission (news - web sites) (SEC). The utility 
had about $1 billion in cash as of Tuesday, PG&E said. 
A similar bank deadline affecting credit lines of Southern California Edison 
(news - web sites), that state's No. 2 utility and a unit of Rosemead, 
Calif.-based Edison International(NYSE:EIX - news), was to expire on Tuesday. 
PG&E also said in its filing that as of Monday, Pacific G&E, California's No. 
1 utility, may not have paid as much as $433 million of ``energy credits'' to 
customers who have chosen to buy their electric energy from a provider other 
than Pacific G&E. The utility is required under state regulations to offer 
the credits, it said. 
Pacific G&E and SoCal Edison have been unable to recover about $12 billion 
because of a rate freeze imposed under California's 1996 utility deregulation 
law, which has left them unable to pass on their soaring wholesale power 
costs to consumers.