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 TO REPORT 2001 THIRD QUARTER EARNINGS ON NOVEMBER 5

(San Francisco, CA) - PG&E Corporation (NYSE:PCG) announced today that it would issue its 2001 third quarter earnings results on Monday, November 5 prior to the opening of the stock market.

A conference call with the financial community will be held to discuss the results that morning at 11:00 AM Pacific Standard Time. The call will be open to the public on a listen-only basis via webcast. Those interested in listening to the call may visit PG&E Corporation's website at www.fengding45.cn for more information and instructions for accessing the webcast. A replay of the webcast will also be available on the company's website following the call.