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.

PG&E CORPORATION BOOSTS STAKE IN NEW WEB-BASED WHOLESALE ENERGY TRADING PLATFORM

San Francisco -- PG&E Corporation (NYSE: PCG) today announced that it is increasing its investment in True Quote LLC, a new browser-based wholesale energy trading platform. Truequote.com provides customers with real-time energy prices on their desktops, and allows them to execute online.

The browser-based truequote.com platform is the latest version of a technology introduced last year as the first real-time, broker-assisted, Internet-based quote system for the natural gas and electricity wholesale marketplace.

Broker assistance promotes neutrality, anonymity, depth of market discovery, and liquidity to all market participants. True Quote developed the new platform in collaboration with EnFORM Technology and Microsoft Corporation. In addition to its equity stake, PG&E Corporation's National Energy Group is providing development advice to help optimize True Quote's performance.

"True Quote's technology, which allows flexibility in launching new products makes it especially valuable in the rapidly evolving e-business market," said Lyn Maddox, president and COO of PG&E National Energy Group's trading operation.

The truequote.com system will link directly to EnronOnline, the largest online commodity platform in the world. "We welcome EnronOnline's linkage to the True Quote system," added Maddox. "This will bring unprecedented liquidity through real-time distribution to the marketplace."

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 more than 30 power plants, and has one of the largest energy trading and risk management programs in North America.