FYI.  I bet Gov. Davis would want to see PG&E site these power plants in CA?  
Looks like PG&E is making money on deregulation both going and coming.

Jim

---------------------- Forwarded by James D Steffes/HOU/EES on 09/11/2000 
01:29 PM ---------------------------


Lynnette Barnes
09/11/2000 11:46 AM
To: Montovano's group, Harry's group, Janine's group, Robin's Group
cc:  
Subject: PG&E signs 15,900 mW contract

PG&E Corporation Signs Contracts to Secure 50 Generating
Turbines Representing 15,900 Megawatts of Electricity

BETHESDA, Md.--(BUSINESS WIRE)--Sept. 11, 2000--PG&E Corporation's (NYSE: PCG 
- news) National Energy Group today announced the
execution of contracts to secure 50 turbines representing a development 
portfolio of approximately 16,000 megawatts of electric power. 

The contracts include four 7FA and nineteen 7FB turbines from GE Power 
Systems, as well as twenty-one Mitsubishi MHI 501G turbines and six Siemens 
Westinghouse SW 501G turbines. 

The turbines will be deployed nationally to support the company's greenfield 
development projects. Most of the turbines will be funded through a creative 
off-balance sheet financing arranged by Societe Generale. The financing 
provides for the turbine purchases and related project costs without any 
near-term cash outlays from PG&E Corporation. 

``These purchase agreements indicate our dedication to our overall growth 
strategy,'' said Thomas G. Boren president and chief executive officer of 
PG&E National Energy Group. ``With a substantial turbine procurement program, 
our commitments to satisfying regional energy needs and meeting our 
development goals are well underway.'' 

The contracts mark PG&E National Energy Group's largest turbine commitment to 
date and diversifies its turbine portfolio. Delivery of the turbines is
scheduled through 2004.  

``We are greatly diversifying our marketing and generation presence across 
the country,'' said Boren. ``As we strengthen our foothold nationally with
projects to meet critical market needs, we achieve a three-way win: value for 
our shareholders, confidence for our customers, and reliability for
consumers,'' he added. 

PG&E Corporation with 1999 revenues of nearly $21 billion and operations in 
21 states, markets energy services and products throughout North America 
through its National Energy Group. The Corporation has ownership and 
management interests in 30 operating electric power generating plants in 10 
states, providing it with a generation portfolio of more than 7,000 megawatts 
and more than 10,000 megawatts in new power plant development and 
construction currently underway. It also has one of the largest energy 
trading and risk management programs in North America. 

Please visit our website: www.pgecorp.com 

To order a copy of PG&E Corporation's 1999 Environmental Annual Report, click 
on the leaf symbol on our website or call 1-800-743-6397. 

To order a copy of PG&E Corporation's 1999 Financial Annual Report, click on 
the club symbol on our website or call 1-800-654-2582. 

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.