----- Forwarded by Jeff Dasovich/NA/Enron on 04/06/2001 05:25 PM -----

	Jean Munoz <jmunoz@mcnallytemple.com>
	04/06/2001 06:05 PM
		 
		 To: "'Andy Brown (E-mail)'" <ABB@eslawfirm.com>, "'B Brown Andy (E-mail)'" 
<andybrwn@earthlink.net>, "'Baker Carolyn (E-mail)'" 
<cabaker@duke-energy.com>, "'Bob Escalante (E-mail)'" 
<rescalante@riobravo-gm.com>, "'Bob Weisenmiller (E-mail)'" 
<rbw@mrwassoc.com>, "'Curtis Kebler (E-mail)'" 
<curtis_l_kebler@reliantenergy.com>, "Dean. Nistetter (E-mail)" 
<Dean.Nistetter@dynegy.com>, "'Douglas Kerner (E-mail)'" <DKK@eslawfirm.com>, 
"'Greg Blue (E-mail)'" <gtbl@dynegy.com>, "'Jan Smutny-Jones (E-mail)'" 
<smutny@iepa.com>, "'Jeff Dasovich (E-mail)'" <Jeff.Dasovich@enron.com>, 
"'Joe Ronan (E-mail)'" <joer@calpine.com>, "'John Larrea (E-mail)'" 
<john.g.larrea@williams.com>, "'John Stout (E-mail)'" 
<John_H_Stout@reliantenergy.com>, "'Julee Malinowski-Ball (E-mail)'" 
<jmball@ns.net>, "'Kassandra Gough (E-mail)'" <kgough@calpine.com>, "'kent 
Palmerton (E-mail)'" <kent.palmerton@williams.com>, "'Lynn Lednicky 
(E-mail)'" <lale@dynegy.com>, "Marie Moretti (E-mail 2)" 
<mmoretti@mccabeandcompany.net>, "'Marty Wilson (E-mail)'" 
<mwilson@pstrategies.com>, "'McNally Ray (E-mail)'" 
<rmcnally@mcnallytemple.com>, "''Nam Nguyen' (E-mail)'" 
<nam.nguyen@powersrc.com>, "'Norton Kelli (E-mail)'" 
<knorton@mcnallytemple.com>, "'Paula Hall-Collins (E-mail)'" 
<paula.hall-collins@williams.com>, "'Pigott Jack (E-mail)'" 
<jackp@calpine.com>, "'Richard Hyde (E-mail)'" <rwhyde@duke-energy.com>, 
"'Roger Pelote (E-mail)'" <roger.pelote@williams.com>, "'Stephanie-Newell 
(E-mail)'" <stephanie-newell@reliantenergy.com>, "'Sue Mara (E-mail)'" 
<smara@enron.com>, "'Tom Ross (E-mail)'" <tross@mcnallytemple.com>, "Tom 
Williams (E-mail)" <tcwillia@duke-energy.com>, "'Alex Sugaoka (E-mail)'" 
<alex.sugaoka@uaecorp.com>, "'Bill Carlson (E-mail)'" 
<william_carlson@wastemanagement.com>, "'Bill Woods (E-mail)'" 
<billw@calpine.com>, "'Bob Ellery (E-mail)'" <bellery@spi-ind.com>, "'Bob 
Gates (E-mail)'" <bob.gates@enron.com>, "'Cody Carter (E-mail)'" 
<cody.carter@williams.com>, "'Curt Hatton (E-mail)'" 
<Curt.Hatton@gen.pge.com>, "'David Parquet'" <david.parquet@enron.com>, 
"'Dean Gosselin (E-mail)'" <dean_gosselin@fpl.com>, "'Doug Fernley (E-mail)'" 
<fernley.doug@epenergy.com>, "'Duane Nelsen (E-mail)'" 
<dnelsen@gwfpower.com>, "'Ed Tomeo (E-mail)'" <ed.tomeo@uaecorp.com>, 
"'Eileen Koch (E-mail)'" <eileenk@calpine.com>, "'Eric Eisenman (E-mail)'" 
<eric.eisenman@gen.pge.com>, "'Frank DeRosa (E-mail)'" 
<frank.derosa@gen.pge.com>, "Frazier Blaylock (E-mail)" 
<frazier_blaylock@ogden-energy.com>, "'Hap Boyd (E-mail)'" 
<Hap_Boyd@enron.com>, "'Hawks Jack (E-mail)'" <jack.hawks@gen.pge.com>, "'Jim 
Willey (E-mail)'" <elliottsa@earthlink.net>, "'Joe Greco (E-mail)'" 
<jgreco@caithnessenergy.com>, "'Jonathan Weisgall (E-mail)'" 
<jweisgall@aol.com>, "'Kate Castillo (E-mail)'" <CCastillo@riobravo-gm.com>, 
"'Kelly Lloyd (E-mail)'" <kellyl@enxco.com>, "'Ken Hoffman (E-mail)'" 
<khoffman@caithnessenergy.com>, "'Kent Fickett (E-mail)'" 
<kfickett@usgen.com>, "'Lynn Lednicky (E-mail)'" 
<lynn.a.lednicky@dynegy.com>, "'Marty McFadden (E-mail)'" 
<marty_mcfadden@ogden-energy.com>, "'Paula Soos'" 
<paula_soos@ogden-energy.com>, "'Randy Hickok (E-mail)'" 
<rjhickok@duke-energy.com>, "Rick S. Koebbe (E-mail)" 
<rskoebbe@powerworksinc.com>, "'Rob Lamkin (E-mail)'" 
<rllamkin@seiworldwide.com>, "'Ross Ain (E-mail)'" <ain@worldnet.att.net>, 
"'Steve Iliff'" <siliff@riobravo-gm.com>, "'Steve Ponder (E-mail)'" 
<steve_ponder@fpl.com>, "'Tony Wetzel (E-mail)'" <twetzel@thermoecotek.com>, 
"'William Hall (E-mail)'" <wfhall2@duke-energy.com>, 
<trusso@mcnallytemple.com>, <sadlersa@earthlink.net>, <mstultz@epsa.org>, 
<rtemple@mcnallytemple.com>, <tracy.fairchild@edelman.com>, 
<megan.beiser@edelman.com>, <deborah.fiorito@dynegy.com>, <lchurch@epsa.org>, 
Katie Kaplan <kaplan@iepa.com>, <tcwillia@duke-energy.com>, 
<rwhyde@duke-energy.com>, Beth Miller <bam_miller@hotmail.com>, 
<rlapsley@yahoo.com>, Jonathan Wilcox <wilcoxjr@earthlink.net>, Alfie Charles 
<alfie_charles@hotmail.com>
		 cc: 
		 Subject: Others reactions to PG&E bankruptcy

Following are reactions from:

IBEW 
Duke 
Reliant 
Sempra 
Fitch

FYI, Jan reacted on behalf of IEP during a media teleconference earlier 
today, and also by a statewide satellite feed.

Thanks - Jean


-- 
Jean Munoz
McNally Temple Associates, Inc.
916-447-8186
916-447-6326 (fx)


IBEW Statement on PG&E Bankruptcy

PR Newswire
04/06/01, 5:02p
(Copyright , 2001, PR Newswire)

WASHINGTON, April 6 /PRNewswire/ -- In response to the bankruptcy 
announcement made by Pacific Gas and Electric, Edwin D. Hill, International 
President of the International Brotherhood of Electrical Workers (IBEW), 
issued the following statement. 

"Pacific Gas and Electric's filing for bankruptcy could make a dire situation 
in California even worse. On behalf of the 13,500 IBEW Local Union 1245 
members employed by PG&E and the public they serve, we believe it is 
imperative that constructive action be taken now.

"Specifically, we call on the Federal Energy Regulatory Commission (FERC) to 
stop dragging its feet and impose price controls on the wholesale electricity 
market in California. It is obvious that price gouging by wholesale suppliers 
has bled dry the investor-owned utilities and precipitated this crisis. The 
state has purchased power in an effort to prop up the system, but it too has 
paid the same inflated prices. This only threatens California's budget 
surplus and places an unfair burden on taxpayers while doing nothing to 
address the root of the problem.

"We also believe that it is time for government and industry to work together 
to jump start projects to improve the interconnected transmission grid in the 
Western states so that power can be quickly and efficiently moved to where it 
is needed. Prompt action on such projects could have helped alleviate the 
current problems, and they should commence with all due speed.

"Another factor that has driven the crisis is the lack of adequate generation 
facilities to power the growth of California and other Western states. We 
urge the Western Governors Association to take the lead in helping to chart a 
course that will bring more facilities on line and provide short and long 
term solutions to these difficulties.

"Even though we have been assured that PG&E employees will still be paid, and 
we know that their pensions are protected by law, we will fight to ensure 
that our collective bargaining rights are honored during this process. We 
will work with our Local Union 1245, utility management, Governor Davis and 
all other parties to restore sanity and reliability to California's gas and 
electricity systems." 

SOURCE International Brotherhood of Electrical Workers 

/CONTACT: Jim Spellane of the International Brotherhood of Electrical 
Workers, 202-728-6014/ 

Duke Energy Statement Regarding Pacific Gas & Electric Company Filing for 
Chapter 11 Reorganization

PR Newswire
04/06/01, 4:34p
(Copyright , 2001, PR Newswire)



CHARLOTTE, N.C., April 6 /PRNewswire/ -- Duke Energy Corporation (NYSE: DUK) 
today issued the following statement: 

We regret that the collective actions to mitigate Pacific Gas & Electric's 
(PG&E) financial crisis were unsuccessful in keeping it from filing for 
Chapter 11 reorganization. However, the Chapter 11 filing provides a defined 
process to collect our past receivables and keep PG&E in business going 
forward.

Duke Energy had taken a number of aggressive steps to limit its financial 
exposure to uncertainties in California's energy market, including the 
potential bankruptcy of the state's investor-owned utilities. The company has 
also sold a significant portion of its energy output from its California 
plants through fixed-price, forward contracts to creditworthy entities.

Duke Energy continues to operate its power plants in California efficiently 
and effectively to supply the state's energy needs. The company is working 
with federal and state officials and members of the state legislature to help 
California solve its electricity problems.

Duke Energy, a diversified multinational energy company, creates value for 
customers and shareholders through an integrated network of energy assets and 
expertise. Duke Energy manages a dynamic portfolio of natural gas and 
electric supply, delivery and trading businesses -- generating revenues of 
more than $49 billion in 2000. Duke Energy, headquartered in Charlotte, N.C., 
is a Fortune 100 company traded on the New York Stock Exchange under the 
symbol DUK. More information about the company is available on the Internet 
at: www.duke-energy.com. 

SOURCE Duke Energy Corporation 

/CONTACT: Bryant Kinney of Duke Energy Corporation, 704-382-2208, or 24-Hour, 
704-382-8333/ 

/Company News On-Call: http://www.prnewswire.com/comp/257451.html or fax, 
800-758-5804, ext. 257451/ 

/Web site: http://www.duke-energy.com / 

Reliant Energy Says Bankruptcy Action By Pacific Gas and Electric Co. Not 
Unexpected

PR Newswire
04/06/01, 4:11p
(Copyright , 2001, PR Newswire)



HOUSTON, April 6 /PRNewswire/ -- Reliant Energy (NYSE: REI) said today that 
the bankruptcy filing announced by Pacific Gas and Electric Company was not 
an unexpected occurrence and does not increase Reliant Energy's financial 
exposure.

Steve Letbetter, Reliant Energy chairman, president, and chief executive 
officer, said Reliant Energy planned for such a possibility during the fourth 
quarter 2000 and continues to do so.

"Our exposure to financial risk as a result of Pacific Gas and Electric's 
action is not expected to increase," Letbetter said. "This development does 
not impact the level of first quarter results we have previously anticipated. 
We established a $39 million reserve in the fourth quarter of 2000, and we 
will continue to reserve appropriate funds."

According to Letbetter, bankruptcy is one of the mechanisms that will get 
outstanding receivables paid and can be a part of an overall, constructive 
solution to California's energy crisis.

"Despite this bankruptcy action, Reliant Energy will continue to work with 
the state to ensure our generating plants are available to serve California's 
electricity needs," Letbetter said. "We remain committed to helping find a 
long-term solution to California's energy crisis."

Reliant Energy plans to release its earnings on Monday, April 16.

Reliant Energy, based in Houston, Texas, is an international energy services 
and energy delivery company with approximately $29 billion in annual revenue 
and assets totaling more than $32 billion. The company has more than 23,000 
megawatts of power generation in operation in the U.S. and is one of only 
three companies to rank among both the five largest power marketers and the 
five largest natural gas marketers in the nation. The company also has 
wholesale trading and marketing operations and more than 3,400 megawatts of 
power generation in Western Europe. Reliant Energy's retail marketing and 
distribution operations serve nearly four million electricity and natural gas 
customers in the U.S., and its Internet infrastructure and communications 
company serves business customers in Texas.

For more information about Reliant Energy, visit the company's website at 
www.reliantenergy.com. 

SOURCE Reliant Energy 

/CONTACT: media, Richard Wheatley, 713-207-5881, or investors, Dennis Barber, 
713-207-3042, both of Reliant Energy/ 


Sempra Energy And SDG&E Reaffirm Strong Financial Position in Response to 
PG&E Bankruptcy

Business Wire
04/06/01, 4:00p
(Copyright , 2001, Business Wire)

SAN DIEGO--(BUSINESS WIRE)--April 6, 2001--Sempra Energy and San Diego Gas & 
Electric (SDG&E) officials took the opportunity of today's Chapter 11 
bankruptcy announcement by Pacific Gas & Electric (PG&E) to reaffirm their 
companies' strong financial position and the significant regulatory and 
legislative differences between SDG&E and PG&E.

"We want to reassure our customers and shareholders that Sempra Energy and 
SDG&E remain very strong and financially viable companies," said Stephen L. 
Baum, chairman, president and chief executive officer of Sempra Energy, the 
parent company of SDG&E. "SDG&E is continuing its record of providing safe 
and reliable gas and electric service for our 1.2 million customers today, 
tomorrow and for years to come. There are several significant financial, 
legislative and regulatory differences that distinguish Sempra Energy and 
SDG&E from PG&E."

SDG&E is covered under Assembly Bill 265, a law signed by the Governor last 
September which guaranteed that SDG&E will be able to collect the difference 
between the capped price of electricity and the wholesale cost of power, 
providing the power was prudently purchased. PG&E is not covered by AB 265 
and that guarantee. At the end of February, the under-collection in the 
balancing account was $681 million. Since the state's power procurement 
agency, the California Department of Water Resources (DWR), has been 
purchasing power for SDG&E, the growth of the company's balancing account has 
slowed significantly.

Unlike PG&E, SDG&E has been able to pay its wholesale electric bills to the 
DWR, the California Independent System Operator, the California Power 
Exchange and Qualifying Facilities that cogenerate power for the utility. 
Additionally, the Sempra Energy companies have no significant credit exposure 
to PG&E.

"Sempra Energy and SDG&E have long advocated that the Federal Energy 
Regulatory Commission institute temporary regional wholesale price caps to 
help stem the financial problems such as those experienced by PG&E," Baum 
added. "We are also committed to promoting and instituting comprehensive 
energy conservation programs for all customers to help control bills and 
decrease the chances of rotating outages this summer."

Sempra Energy (NYSE: SRE), based in San Diego, is a Fortune 500 energy 
services holding company with 12,000 employees and annual revenues of $5.4 
billion. Through its eight principal subsidiaries -- SoCalGas, SDG&E, Sempra 
Energy Solutions, Sempra Energy Trading, Sempra Energy International, Sempra 
Energy Resources, Sempra Communications and Sempra Energy Financial -- Sempra 
Energy serves more than 9 million customers in the United States, Europe, 
Canada, Mexico and South America.

   CONTACT:  Sempra Energy
             Laura Farmer/Art Larson, 877/866-2066 (Media)
             www.sempra.com
                   or
             Karen Sedgwick, 877/736-7727 (Investors)


Fitch Cuts Pacific Gas and Electric, So Cal Edison Ratings

Business Wire
04/06/01, 4:57p
(Copyright , 2001, Business Wire)

NEW YORK--(BUSINESS WIRE)--April 6, 2001--Fitch has lowered its ratings for 
Pacific Gas and Electric Company (Pac Gas) senior secured and preferred 
securities into the default category based on the utility's voluntary filing 
today of a petition under Chapter 11 of the U.S. Bankruptcy Code.

Fitch also believes that Pac Gas' bankruptcy filing could complicate Southern 
California Edison's (So Cal Ed) likelihood of accomplishing a sale of its 
transmission assets to the State of California. Consequently, Fitch has 
lowered So Cal Ed's senior secured debt rating and changed the Ratings Watch 
to Negative from Evolving. The Ratings Watch status of Edison International, 
the parent of So Cal Ed, is also changed to Negative from Evolving. The new 
ratings are:

Pacific Gas and Electric Company


   First Mortgage Bonds to `DDD' from `B-`;
   Preferred Securities to `D' from `C';
   Commercial Paper `D' Unchanged;
   Rating Watch Not applicable Negative.

   Fitch does not rate the securities of PG&E Corp.

   Southern California Edison Company

   Senior Secured Debt to `CCC' from `B-`;
   Senior Unsecured Debt `CC' unchanged;
   Preferred Stock `C' unchanged;
   Commercial Paper `D' unchanged;
   Changed to Rating Watch Negative from Rating Watch Evolving.

   Edison International

   Senior Unsecured Notes `CC' unchanged;
   Trust Preferred Securities `C' unchanged;
   Commercial Paper `D' unchanged;
   To Rating Watch Negative from Rating Watch Evolving.

Pacific Gas and Electric Company is a wholly owned subsidiary of PG&E Corp., 
and is based in San Francisco, CA. Southern California Edison is a wholly 
owned subsidiary of Edison International, and is based in Rosemead, 
California.


   CONTACT: Fitch 
            Lori R. Woodland, 1-312/606-2309, Chicago 
            Steven Fetter, 1-212/908-0555, New York