|
|
Article: Pacific Gas and Electric Company and PG&E Corporation Comment on Proposed Settlement of Utility Chapter 11 Case.
- Article from:
- PR Newswire
- Article date:
- June 20, 2003
CopyrightCOPYRIGHT 2003 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Pacific Gas and Electric Company and its parent PG&E Corporation jointly issued the following statement on the proposed settlement of the utility's Chapter 11 case with the California Public Utilities Commission (CPUC) staff, announced today by U.S. Bankruptcy Court Judge Randall Newsome:
"The proposed settlement would resolve the utility's Chapter 11 proceeding on acceptable terms. It meets basic goals we set for any reorganization plan: It would allow Pacific Gas and Electric Company to emerge from Chapter 11 as an investment grade utility, pay all valid creditor claims in full, with interest, and do so without raising our customers' rates.
"PG&E has ...