PG&E Finishes Cutting Checks to Customers and Vendors for Energy Efficiency-Related Programs

Business Wire, May 24, 2001

Business Editors

SAN FRANCISCO--(BUSINESS WIRE)--May 24, 2001

Within a week of getting permission from the Bankruptcy Court to pay customers and vendors for rebates and energy efficiency-related work, Pacific Gas and Electric Company announced today that it has finished cutting checks for uncontested claims filed prior to April 6.

The utility has written about 11,000 checks to customers, contractors and vendors since the court gave approval on May 16. The payments, totaling nearly $38 million, had been frozen along with all creditors' claims when the utility filed for protection under Chapter 11 of the U.S. Bankruptcy Code. Pacific Gas and Electric Company filed a motion on April 24, asking the court to confirm that the energy efficiency funds are a protected trust and therefore not part of the bankruptcy estate. The court's approval of that motion permitted the utility to begin writing checks.

"We recognize that energy efficiency programs are critical to helping the state address the energy crisis, and we're pleased the court has confirmed that funding for the programs is not impacted by the bankruptcy proceeding," said Steve McCarty, director of the utility's customer energy management programs. "We want consumers to know that the energy efficiency programs are available to help them conserve energy to save money and help the state avoid blackouts."

Pacific Gas and Electric Company offers rebates on everything from lightbulbs to windows to refrigerators to help consumers be more energy efficient. Information about the rebate programs is available at www.pge.com/123, or by calling the Smarter Energy Line at 800/933-9555, or the Business Energy Line at 800/468-4743.