California Energy Commission Approves Construction of Otay Mesa Generating Plant.Business Editors SAN FRANCISCO--(BUSINESS WIRE)--April 18, 2001 PG&E Corporation's (NYSE NYSE See: New York Stock Exchange : PCG PCG phonocardiogram. ) National Energy Group (NEG neg negative. ) announced today that the California Energy Commission The California Energy Commission is California’s primary energy policy and planning agency. Created in 1974 and headquartered in Sacramento, the Commission has responsibility for activities that include forecasting future energy needs, promoting energy efficiency through (CEC (Central Electronic Complex) The set of hardware that defines a mainframe, which includes the CPU(s), memory, channels, controllers and power supplies included in the box. Some CECs, such as IBM's Multiprise 2000 and 3000, include data storage devices as well. ) has approved construction of the Otay Mesa Generating Plant in San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. County, which the NEG has developed. In a regular business session Wednesday, the CEC voted unanimously to approve a license for the 500-megawatt project. "We are very grateful for the commission's action on this project," said Thomas B. King, president and COO of the NEG's West Region. As the project developer, the NEG has overseen the licensing process for the proposed power plant. Once the CEC process is complete, Calpine Corporation will assume ownership of the Otay Mesa Project and will construct and operate the plant. The NEG will contract for up to 250 megawatts of the project's output available upon commercial operation. The Otay Mesa Project has had support from the San Diego community. The Otay Mesa Generating Project will be located within a 46-acre property on the eastern portion of Otay Mesa, near the base of the San Ysidro Mountains, approximately 1.5 miles from the United States/Mexico border. The county has targeted this area for development of a technology park, and construction of the Otay Mesa Plant will aid in establishing infrastructure necessary to support that development plan. The project, which is expected to begin construction in the third quarter of this year, will produce enough electricity to power approximately 500,000 homes. Designed as an efficient, combined-cycle generating plant, the Otay Mesa facility will be fueled with natural gas and include emission control The selective and controlled use of electromagnetic, acoustic, or other emitters to optimize command and control capabilities while minimizing, for operations security: a. detection by enemy sensors; b. mutual interference among friendly systems; and/or c. equipment and water conservation technology. In addition, the Otay Mesa Generating Project will utilize mobile emission reduction credits to offset emissions from the plant. A large portion of the mobile credits will be created through the conversion of refuse-hauling vehicles in San Diego to be fueled by natural gas. This news release discusses certain matters that may be considered "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding the intent, belief or current expectations of PG&E Corporation ("the Company") and its management or those of the PG&E National Energy Group and its management. Prospective investors are cautioned that any such forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. are not guarantees of future performance and involve a number of risks and uncertainties that could materially affect actual results such as, but not limited to, (i) changes in government regulations, including federal and state regulation of the electric energy industry; (ii) commercial operations of new plants that may be delayed, interrupted in·ter·rupt v. in·ter·rupt·ed, in·ter·rupt·ing, in·ter·rupts v.tr. 1. To break the continuity or uniformity of: Rain interrupted our baseball game. 2. or prevented because of various development, construction and operation risks, such as a failure to obtain financing, necessary permits or equipment, or the failure of third-party contractors to perform their contractual obligations, (iii) a competitor's development of a lower-cost gas-fired power plant, (iv) fluctuations in natural gas and electricity prices and the ability to successfully manage such price fluctuations or (v) the risks associated with marketing and selling power from power plants in the newly competitive energy market. Prospective investors are also referred to the other risks identified from time to time in the Company's reports and registration statements filed with the Securities and Exchange Commission. 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 Pacific Gas and Electric Company (PG&E) , (NYSE: PCG), is the utility that provides natural gas and electricity to most of Northern California. , the utility, and is not regulated by the California Public Utilities Commission The California Public Utilities Commission (CPUC; also often commonly referred to as simply the PUC) [1] is a state Public Utilities Commission which regulates privately-owned utilities in the state of California, including electric power, . Customers of Pacific Gas and Electric Company do not have to buy products or services from the National Energy Group in order to receive quality regulated services from Pacific Gas and Electric Company. |
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