SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
FORM U-3A-2/A
Statement by Holding Company Claiming Exemption Under Rule U-3A-2/A from the
Provisions of the Public Utility Holding Company Act of 1935
To Be Filed Annually Prior to March 1
_________________________________________________________________________
PG&E CORPORATION
hereby files with the Securities and Exchange Commission, pursuant to Rule 2,
its statement claiming exemption as a holding company from the provisions of the
Public Utility Holding Company Act of 1935, and submits the following
information:
1. Name, State of organization, location and nature of business of claimant and
every subsidiary thereof, other than any exempt wholesale generator ("EWG") or
foreign utility company in which claimant directly or indirectly holds an
interest.
1.1. PG&E Corporation ("Claimant")
California corporation
PG&E Corporation
One Market, Spear Tower, Suite 2400
San Francisco, CA 94105
Claimant is a holding company formed by Pacific Gas and
Electric Company, a public utility. On January 1, 1997,
Claimant became the parent of Pacific Gas and Electric
Company pursuant to a corporate reorganization plan.
Claimant is also the parent of non-utility subsidiaries
formerly owned by Pacific Gas and Electric Company.
1.2. Subsidiaries
1.2.1. Elm Power Corporation
Delaware corporation
One Market, Spear Tower, Suite 2400
San Francisco, CA 94105
Elm Power Corporation is a wholly owned subsidiary of Claimant,
for the purpose of repurchasing shares.
1.2.2. Pacific Gas and Electric Company
California corporation
77 Beale Street
P.O. Box 770000
San Francisco, CA 94177
Pacific Gas and Electric Company is a wholly owned
subsidiary of Claimant. Pacific Gas and Electric Company
is an operating public utility engaged principally in the
business of supplying electric and natural gas service
throughout most of Northern and Central California.
1.2.2.1. Alberta and Southern Gas Co., Ltd.
Alberta corporation
1500 Bankers Hall
855 Second Street., SW
Calgary, Alberta T2P 4J7
Alberta and Southern Gas Co. Ltd. is a wholly owned Canadian
subsidiary of Pacific Gas and Electric Company. Alberta
and Southern Gas Co. Ltd. formerly purchased natural gas
in Canada for the California market.
1.2.2.1.1. Alberta and Southern Gas Marketing, Inc.
Alberta corporation
1500 Bankers Hall
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855 Second Street., SW
Calgary, Alberta T2P 4J7
Alberta and Southern Gas Marketing, Inc. is a wholly owned
subsidiary of Alberta and Southern Gas Co. Ltd. Alberta and
Southern Gas Marketing, Inc., formerly marketed natural
gas in non-California markets.
1.2.2.2. Natural Gas Corporation of California
California corporation
P.O. Box 770000
77 Beale Street, 32nd Floor
San Francisco, CA 94177
Natural Gas Corporation of California is a wholly
owned subsidiary of Pacific Gas and Electric Company.
Natural Gas Corporation of California acts as the
vehicle for the amortization of certain regulatory
assets.
1.2.2.2.1. NGC Production Company
California corporation
P.O. Box 770000
77 Beale Street, 32nd Floor
San Francisco, CA 94177
NGC Production Company is a wholly owned subsidiary
of Natural Gas Corporation of California. NGC
Production Company facilitates project financing for
Natural Gas Corporation of California's capital
requirements.
1.2.2.2.2. Alaska Gas Exploration Associates
California corporation
P.O. Box 770000
77 Beale Street, 32nd Floor
San Francisco, CA 94177
Alaska Gas Exploration Associates is 50% owned by
Natural Gas Corporation of California.
1.2.2.3. Pacific Conservation Services Company
California corporation
P.O. Box 770000
77 Beale Street, 32nd Floor
San Francisco, CA 94177
Pacific Conservation Services Company is a wholly
owned subsidiary of Pacific Gas and Electric Company.
Pacific Conservation Services Company engages in
borrowing and lending operations required to fund
Pacific Gas and Electric Company conservation loan
programs.
1.2.2.4. Calaska Energy Company
California corporation
P.O. Box 770000
77 Beale Street, 32nd Floor
San Francisco, CA 94177
Calaska Energy Company is a wholly owned subsidiary of
Pacific Gas and Electric Company. Calaska Energy
Company was Pacific Gas and Electric Company's
representative in the Alaska Highway Pipeline Project,
which was formed to bring Prudhoe Bay natural gas to the
lower 48 states.
1.2.2.5. Eureka Energy Company
California corporation
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P.O. Box 770000
77 Beale Street, 32nd Floor
San Francisco, CA 94177
Eureka Energy Company is a wholly owned subsidiary of
Pacific Gas and Electric Company. Eureka Energy Company
owns land in San Luis Obispo County.
1.2.2.6. Standard Pacific Gas Line, Incorporated
California corporation
P.O. Box 770000
77 Beale Street, 32nd Floor
San Francisco, CA 94177
Standard Pacific Gas Line, Incorporated is a subsidiary of
Pacific Gas and Electric Company. Standard Pacific
Gas Line, Inc. transports natural gas in California.
Pacific Gas and Electric Company owns a 85.71% interest,
and Chevron Pipe Line Company owns the remaining 14.29%
interest.
1.2.2.7. Pacific California Gas System, Inc.
California corporation
P.O. Box 770000
77 Beale Street, 32nd Floor
San Francisco, CA 94177
Pacific California Gas System, Inc. is a wholly owned
subsidiary of Pacific Gas and Electric Company. Pacific
California Gas System, Inc. was created to hold
intrastate gas pipeline operations.
1.2.2.8. Pacific Energy Fuels Company
California corporation
P.O. Box 770000
77 Beale Street, 32nd Floor
San Francisco, CA 94177
Pacific Energy Fuels Company is a wholly owned
subsidiary of Pacific Gas and Electric Company. Pacific
Energy Fuels Company owns and finances nuclear fuel
inventory.
1.2.2.9. Pacific Gas Properties Company
California corporation
P.O. Box 770000
77 Beale Street, 32nd Floor
San Francisco, CA 94177
Pacific Gas Properties Company is a wholly owned
subsidiary of Pacific Gas and Electric Company. Pacific
Gas Properties Company owns California property.
1.2.2.9.1. Pacific Properties
California corporation
P.O. Box 770000
77 Beale Street, 32nd Floor
San Francisco, CA 94177
Pacific Properties is 50% owned by Pacific Gas
Properties Company. Pacific Properties owns California
property.
1.2.2.10. Chico Commons, L.P.
California partnership
One Market, Spear Tower, Suite 2400
San Francisco, CA 94105
Chico Commons, L.P. is 41% owned by Pacific Gas and Electric
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Company as a limited partner. Chico Commons, L.P. was created
to construct and own low income housing.
1.2.2.11. PG&E Capital I
P.O. Box 770000
77 Beale Street, 32nd Floor
San Francisco, CA 94177
PG&E Capital I, a business trust, is 3% owned by
Pacific Gas and Electric Company.
PG&E Capital I was formed as a special purpose
financing vehicle for the purpose
of issuing deferrable income securities.
1.2.2.12. PG&E Funding, LLC
Delaware corporation
245 Market Street, Suite 424
San Francisco, CA 94105
PG&E Funding, LLC is a wholly owned subsidiary of
Pacific Gas and Electric Company. PG&E Funding, LLC is
a special purpose financing vehicle formed for the
ownership of transition property and issuance of
securities.
1.2.2.13. 201 Turk Street, L.P.
California partnership
One Market, Spear Tower, Suite 2400
San Francisco, CA 94105
201 Turk Street, L.P. is 32.4% owned by Pacific Gas and
Electric Company as a limited partner. 201 Turk Street, L.P.
was created to construct and own a low income housing project.
1.2.2.14. 1989 Oakland Housing Partnership Associates, L.P.
California partnership
One Market, Spear Tower, Suite 2400
San Francisco, CA 94105
1989 Oakland Housing Partnership Associates, L.P. is owned 40%
by Pacific Gas and Electric Company as a limited partner. 1989
Oakland Housing Partnership Associates, L.P. was created to
construct and own low income housing.
1.2.2.15. 1992 Oakland Regional Housing Partnership Associates, L.P.
California partnership
One Market, Spear Tower, Suite 2400
San Francisco, CA 94105
1992 Oakland Regional Housing Partnership Associates,
L.P. is owned 17% by Pacific Gas and Electric Company as a
limited partner. 1992 Oakland Housing Partnership Associates,
L.P. was created to construct and own low income housing.
1.2.2.16. 1994 Oakland Regional Housing Partnership Associates, L.P.
California partnership
One Market, Spear Tower, Suite 2400
San Francisco, CA 94105
1994 Oakland Regional Housing Partnership Associates,
L.P. is owned 12% by Pacific Gas and Electric Company as a
limited partner. 1994 Oakland Regional Housing Partnership
Associates, L.P. was created to construct and own low income
housing.
1.2.2.17. Pacific Gas and Electric Housing Fund Partnership, L.P.
California partnership
One Market, Spear Tower, Suite 2400
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San Francisco, CA 94105
Pacific Gas and Electric Housing Fund Partnership,
L.P. is owned 99.9% by Pacific Gas and Electric Company as a
limited partner. Pacific Gas and Electric Housing Fund
Partnership, L.P., invests in projects that construct and own
low income housing.
1.2.2.18. Merritt Community Capital Fund V, L.P.
California partnership
One Market, Spear Tower, Suite 2400
San Francisco, CA 94105
Merritt Community Capital Fund V, L.P.
is owned 2.2% by Pacific Gas and Electric
Company as a limited partner. Merritt Community
Capital Fund V, L.P., was created to construct and own
low income housing.
1.2.2.19. Schoolhouse Lane Apartments, L.P.
California partnership
One Market, Spear Tower, Suite 2400
San Francisco, CA 94105
Schoolhouse Lane Apartments, L.P. is owned 99% by Pacific Gas
and Electric Company as a limited partner. Schoolhouse Lane
Apartments, L.P., was created to construct and own low income
housing.
1.2.2.20. PG&E Holdings, LLC
Delaware corporation
One Market, Spear Tower, Suite 2400
San Francisco, CA 94105
PG&E Holdings, LLC is a wholly owned subsidiary of
Pacific Gas and Electric Company. PG&E Holdings, LLC
was formed as a holding company for repurchased shares.
1.2.2.21. PG&E CalHydro, LLC
California corporation
One Market, Spear Tower, Suite 2400
San Francisco, CA 94105
PG&E CalHydro, LLC is a wholly owned subsidiary of Pacific Gas
and Electric Company. PG&E CalHydro, LLC was formed for the
purpose of owning and operating a system of hydroelectric
facilities and related watershed.
1.2.3. PG&E National Energy Group, Inc.
Delaware corporation
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
PG&E National Energy Group, Inc. is a wholly owned subsidiary of
Claimant. PG&E National Energy Group, Inc. was formed
for the purpose of holding ownership of PG&E Corporation's
unregulated subsidiaries, both direct and indirect.
1.2.3.1. PG&E Enterprises
California corporation
One Market, Spear Tower, Suite 2400
San Francisco, CA 94105
PG&E Enterprises is a wholly owned subsidiary of
PG&E National Energy Group, Inc. PG&E Enterprises
was formed as a holding company for oil and gas, real
estate, electric generation, and technology investments.
1.2.3.1.1. PG&E Shareholdings, Inc.
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California corporation
One Market, Spear Tower, Suite 2400
San Francisco, CA 94105
PG&E Shareholdings, Inc is a wholly owned non-regulated
subsidiary of PG&E Enterprises. Investment holding company.
1.2.3.1.1.1. Gilia Enterprises
California corporation
4615 Cowell Blvd.
Davis, CA 95616
100% owned by PG&E Shareholdings, Inc.
A wholly owned, non-regulated indirect subsidiary of
PG&E Enterprises through its ownership of PG&E
Sharingholdings, Inc. Formed to hold interest in real
estate investment
1.2.3.1.1.1.1. Marengo Ranch Joint Venture
California partnership
4615 Cowell Blvd.
Davis, CA 95616
63% owned by PG&E Shareholdings, Inc. as limited partner
1.3% owned by Gilia Enterprises as general partner
Land development in Sacramento County
1.2.3.1.1.1.2. Oat Creek Associates Joint Venture
California partnership
4615 Cowell Blvd.
Davis, CA 95616
50% owned by PG&E Shareholdings, Inc. as limited partner
50% owned by Gilia Enterprises as general partner
Land development in Yolo County
1.2.3.1.1.2. Rancho Murieta Joint Venture
California partnership
4615 Cowell Blvd.
Davis, CA 95616
45% owned by PG&E Shareholdings, Inc. as limited partner.
Real estate development in Sacramento County, CA.
1.2.3.1.1.3. 1701 Oak Partnership
California partnership
4615 Cowell Blvd.
Davis, CA 95616
50% owned by PG&E Shareholdings, Inc. as limited partner.
Real estate development in Kern County, CA.
1.2.3.1.1.4. 1801 Oak Partnership
California partnership
4615 Cowell Blvd.
Davis, CA 95616
50% owned by PG&E Shareholdings, Inc. as limited partner.
Real estate development in Kern County, CA.
1.2.3.1.1.5. BPS I, Inc.
California corporation
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One Market, Spear Tower, Suite 2400
San Francisco, CA 94105
100% owned by PG&E Shareholdings, Inc.
A wholly-owned, non-regulated real estate
development subsidiary of PG&E Enterprises through
its ownership of PG&E Shareholdings, Inc.
1.2.3.1.1.5.1. Alhambra Pacific (Joint Venture)
California partnership
4615 Cowell Blvd.
Davis, CA 95616
80% owned by PG&E Shareholdings, Inc. as general
partner; 20% owned by BPS I, Inc. as limited partner
Ownership of property in Yolo County.
1.2.3.1.1.6. The Conaway Ranch Company
California corporation
One Market, Spear Tower, Suite 2400
San Francisco, CA 94105
100% owned by PG&E Shareholdings, Inc.
A wholly-owned, non-regulated indirect subsidiary of
PG&E Enterprises through its ownership of PG&E
Shareholdings, Inc., in partnership with the
Conaway Conservancy Group, an existing California
general partnership owning the Conaway Ranch.
1.2.3.1.1.6.1. Conaway Conservancy Group Joint Venture
California partnership
4615 Cowell Blvd.
Davis, CA 95616
70% by PG&E Shareholdings, Inc.; and
30% by Conaway Ranch Company
Ownership of property in Yolo County.
1.2.3.1.1.7. DPR, Inc.
California corporation
One Market, Spear Tower, Suite 2400
San Francisco, CA 94105
100% owned by PG&E Shareholdings, Inc.
A wholly-owned, non-regulated indirect subsidiary of
PG&E Enterprises through its ownership of PG&E
Shareholdings, Inc.; general partner in a real
estate partnership.
1.2.3.1.1.8. McSweeney Ranch Joint Venture
California partnership
4615 Cowell Blvd.
Davis, CA 95616
50% owned by PG&E Shareholdings, Inc.
Land development
1.2.3.1.1.9. PG&E Energy Trading Holdings, LLC
Delaware limited liability company
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
100% owned by PG&E Shareholdings, Inc.
Formed for the limited purpose of holding stock in PG&E
Energy Trading - Power Holdings Corporation.
1.2.3.1.1.9.1. PG&E Energy Trading - Power Holdings Corporation
California corporation
7500 Old Georgetown Road, 13th Floor
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Bethesda, MD 20814-6161
100% owned by PG&E Energy Trading Holdings, LLC.
Holding company for energy trading and overseas entities.
1.2.3.1.1.9.1.1. PG&E ET Investments Corporation
Delaware corporation
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
100% owned by PG&E Energy Trading - Power Holdings
Corporation. Owns the 98% limited partner interest in
PG&E Energy Trading - Power, L.P., and the 98%
membership interest in PG&E ET Synfuel 166, LLC.
1.2.3.1.1.9.1.1.1. PG&E Energy Trading-Power, L.P.
Delaware limited partnership
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
98% owned by PG&E ET Investments Corporation; 2%
owned by PG&E Energy Trading - Power Holdings
Corporation. Engages in electric power marketing and
trading.
1.2.3.1.1.9.1.1.2. PG&E ET Synfuel 166, LLC
Delaware limited liability company
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
98% owned by PG&E ET Investments Corporation; and 2%
owned by PG&E Energy Trading - Power Holdings
Corporation. Formed to acquire a synthetic fuel
production facility located in South Carolina.
1.2.3.1.1.9.1.2. PG&E International Inc.
California corporation
One Market, Spear Tower, Suite 2400
San Francisco, CA 94105
PG&E International Inc. is a wholly owned subsidiary of
PG&E Energy Trading - Power Holdings Corporation, and
is a holding company for overseas project companies.
1.2.3.1.1.9.1.2.1. PG&E International Development Holdings, LLC
Delaware limited liability company
One Market, Spear Tower, Suite 2400
San Francisco, CA 94105
A wholly-owned subsidiary of PG&E International,
Inc., formed to own and sell an Australian pipeline
development company.
1.2.3.1.1.9.1.2.2. Gannet Power Corporation
California corporation
One Market, Spear Tower, Suite 2400
San Francisco, CA 94105
100% owned by PG&E International Inc.
1.2.3.1.1.9.1.2.3. PG&E Overseas Holdings I, Ltd.
Cayman Islands Company
P.O. Box 309, George Town
Grand Cayman, Cayman Islands, BWI
A wholly-owned subsidiary of PG&E International,
Inc., and is a holding Company for PG&E Overseas
Holdings II, Ltd.
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1.2.3.1.1.9.1.2.3.1. PG&E Overseas Holdings II, Ltd.
Labuan Company
Unit Level 9(A2), Main Office Tower
Financial Park Labuan, Jalan Merdeka
87000 W.P. Labuan
Malaysia
100% owned by PG&E Overseas Holdings I, LTD., and
is an investment company
1.2.3.1.1.9.1.2.3.1.1. PG&E Corporation Australian Holdings Pty, Ltd.
Australian corporation
Level 33, Waterfront Place
One Eagle Street
Brisbane, Queensland 4000
Australia
100% owned by PG&E Overseas Holding II, Ltd.
Holding company for Australian companies
1.2.3.1.1.9.1.2.3.1.1.1. PG&E Gas Transmission Australia Pty Ltd.
Australian corporation
Level 33, Waterfront Place
One Eagle Street
Brisbane, Queensland 4000
Australia
100% owned by PG&E Corporation Australian
Holdings Pty, Ltd.
Investment company.
1.2.3.1.1.9.1.2.3.1.1.2. PG&E Gas Transmission Queensland Pty Ltd
Australian corporation
Level 33, Waterfront Place
One Eagle Street
Brisbane, Queensland 4000
Australia
100% owned by PG&E Corporation Australian
Holdings Pty, Ltd.
Pipeline operator.
1.2.3.1.1.9.1.2.3.1.1.3. PG&E Gas Transmission Unit Holdings Pty Ltd
Australian corporation
Level 33, Waterfront Place
One Eagle Street
Brisbane, Queensland 4000
Australia
100% owned by PG&E Corporation Australian
Holdings Pty, Ltd.
Investment company.
1.2.3.1.1.9.1.2.3.1.1.4. PG&E Energy Trading Australia Pty Ltd
Australian corporation
Level 33, Waterfront Place
One Eagle Street
Brisbane, Queensland 4000
Australia
100% owned by PG&E Corporation Australian
Holdings Pty, Ltd.
Energy marketing company.
1.2.3.1.1.9.1.2.3.1.1.5. PG&E Corporation Australia Pty Ltd.
Australian corporation
Level 33, Waterfront Place
One Eagle Street
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Brisbane, Queensland 4000
Australia
100% owned by PG&E Corporation Australian
Holdings Pty, Ltd.
Provides corporate services.
1.2.3.1.1.9.1.2.4. PG&E Gas Transmission Bundaberg Pty Ltd.
Australian corporation
Level 33, Waterfront Place
One Eagle Street
Brisbane, Queensland 4000
Australia
100% owned by PG&E International, Inc.
Project development company.
1.2.3.1.1.9.1.2.5. Rocksavage Services I, Inc.
Delaware corporation
One Market, Spear Tower, Suite 2400
San Francisco, CA 94105
100% owned by PG&E International Inc.
1.2.3.1.1.9.1.3. PG&E Energy Trading - Gas Corporation
California corporation
7500 Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
100% owned by PG&E Energy Trading - Power Holdings
Corporation. Engages in natural gas marketing and
trading activities in the United States.
1.2.3.1.1.9.1.3.1. PG&E Energy Trading, Canada Corporation
Alberta corporation
335 Eighth Avenue, S.W. Suite 1740
Calgary, Alberta T2P 1CP
Canada
100% owned by PG&E Energy Trading - Gas Corporation.
Engages in natural gas marketing and trading
activities in Canada.
1.2.3.1.1.9.1.3.1.1. CEG Energy Options Inc.
Saskatchewan corporation
2366 Avenue C North, Suite 101
Saskatoon, Saskatchewan S7L 5X5
Canada
100% owned by PG&E Energy Trading, Canada
Corporation. Engages in natural gas marketing
in Saskatchewan.
1.2.3.1.1.9.1.3.2. True Quote LLC
Kentucky limited liability company
9931 Corporate Campus Drive, Suite 2400
Louisville, KY 40223
46.24% owned by PG&E Energy Trading - Gas. Engages in
the business of designing, developing, implementing,
operating and commercializing a business- to-business
e-commerce venture for the transmission of energy and
energy-related products
1.2.3.1.1.10. PG&E Generating Company, LLC
Delaware limited liability company
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
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100% owned by PG&E Shareholdings, Inc. Holding company for
PG&E Generating Company activities.
1.2.3.1.1.10.1. PG&E Generating Energy Group, LLC
Delaware limited liability company
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
100% owned by PG&E Generating Company, LLC Holding
company for PG&E National Energy Group merchant projects
and USGen New England, Inc.
1.2.3.1.1.10.1.1. PG&E Generating Energy Holdings, Inc.
Delaware corporation
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
100% owned by PG&E Generating Energy Group, LLC.
Formed to be the holding company for the 1% membership
interests of the limited liability companies under
PG&E Generating Energy Group, LLC
1.2.3.1.1.10.1.1.1. Badger Power Corporation
Delaware corporation
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
100% owned by PG&E Generating Energy Group, LLC
Formed to own a membership interest in Badger
Generating Company, LLC.
1.2.3.1.1.10.1.2. Black Hawk Power Corporation
California corporation
100 Pine Street, 20th Floor
San Francisco, CA 94111
100% owned by PG&E Generating Energy Group, LLC
General and limited partner in Athens Generating
Company, L.P.
1.2.3.1.1.10.1.3. Black Hawk III Power Corporation
California corporation
100 Pine Street, 20th Floor
San Francisco, CA 94111
100% owned by PG&E Generating Energy Group, LLC
General and limited partner in Lake Road Generating
Company, L.P.; holds membership interest in Lake Road
Power I, LLC.
1.2.3.1.1.10.1.3.1. Lake Road Power I, LLC
Delaware limited liability company
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
100% owned by Black Hawk III Power
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Corporation.
Formed to own a future partnership interest in Lake
Road Generating Company, L.P.
1.2.3.1.1.10.1.4. Harlan Power Corporation
California corporation
100 Pine Street, 20th Floor
San Francisco, CA 94111
100% owned by PG&E Generating Energy Group, LLC
General and limited partner in Umatilla Generating
Company, L.P.
1.2.3.1.1.10.1.4.1. Umatilla Generating Company, L.P.
Delaware limited partnership
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
51% owned by Harlan Power Corporation, and 49% owned
by Juniper Power Corporation. Electric generating
facility to be located near Umatilla, Oregon.
1.2.3.1.1.10.1.5. Peach I Power Corporation
Delaware corporation
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
100% owned by PG&E Generating Energy Group, LLC
Holds general partnership interest in
Athens Generating Company, L.P.
1.2.3.1.1.10.1.6. Peach IV Power Corporation
Delaware corporation
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
100% owned by PG&E Generating Energy Group, LLC. Holds
general partnership interest in Lake Road Generating
Company, L.P.
1.2.3.1.1.10.1.6.1. Lake Road Power II, LLC
Delaware limited liability company
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
100% owned by Peach IV Power Corporation. Formed to
hold a future partnership interest in Lake Road
Generating Company, L.P.
1.2.3.1.1.10.1.7. Juniper Power Corporation
Delaware corporation
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
100% owned by PG&E Generating Energy Group, LLC
General partner in Umatilla Generating Company, L.P.
1.2.3.1.1.10.1.8. Plover Power Corporation
California corporation
100 Pine Street, 20th Floor
San Francisco, CA 94111
100% owned by PG&E Generating Energy Group, LLC
General and limited partner in Mantua Creek Generating
Company, L.P. and Mantua Creek Urban Renewal, L.P.
1.2.3.1.1.10.1.9. Beech Power Corporation
Delaware corporation
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7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
100% owned by PG&E Generating Energy Group, LLC
General partner in Mantua Creek Generating Company,
L.P. and Mantua Creek Urban Renewal, L.P.
1.2.3.1.1.10.1.9.1. Mantua Creek Urban Renewal, L.P.
Delaware limited partnership
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
51% owned by Plover Power Corporation, and
49% owned by Beech Power Corporation
Special purpose tax partnership formed for Mantua
Creek Project; formed to operate under the Long Term
Tax exemption Law, and to initiate and conduct
projects for redevelopment of a redevelopment area
pursuant to a redevelopment plan, and, when
authorized by financial agreement with the
municipality, to acquire, plan, develop, construct,
alter, maintain, or operate industrial, commercial
or administrative projects.
1.2.3.1.1.10.1.10. Black Hawk II Power Corporation
California corporation
100 Pine Street, 20th Floor
San Francisco, CA 94111
100% owned by PG&E Generating Energy Group, LLC
Inactive; formerly a general partner in the "old"
Millennium Power Partners, L.P.
1.2.3.1.1.10.1.11. Peach III Power Corporation
Delaware corporation
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
100% owned by PG&E Generating Energy Group, LLC
Formerly held interest in Millennium Power Partners,
L.P. Inactive and in process of dissolution.
1.2.3.1.1.10.1.12. First Arizona Land Corporation
Delaware corporation
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
100% owned by PG&E Generating Energy Group, LLC
Formed to enter into real estate options in the State
of Arizona for the Harquahala Project.
1.2.3.1.1.10.1.13. First California Land Corporation
Delaware corporation
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
100% owned by PG&E Generating Energy Group, LLC.
Formed to enter into real estate options and/or
leases in the State of California
1.2.3.1.1.10.1.14. PG&E Generating New England, Inc.
Delaware corporation
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
100% owned by PG&E Generating Energy Group, LLC
Formed to own membership interst in PG&E Generating
New England, LLC.
13
1.2.3.1.1.10.1.14.1. PG&E Generating New England, LLC
Delaware limited liability company
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
100% owned by PG&E Generating New England, Inc.
Formed to be the successor company to USGen New
England, Inc. in the Patriot Project.
1.2.3.1.1.10.1.15. Attala Power Corporation
Delaware corporation
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
100% owned by PG&E Generating Energy Group LLC.
Investment company for the Duke/Attala acquisition;
owner of Attala Generating Company, LLC.
1.2.3.1.1.10.1.15.1. Attala Generating Company, LLC
Delaware limited liability company
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
100% owned by Attala Power Corporation.
Merchant electric generating facility being
constructed in Kosciusko, Mississippi.
1.2.3.1.1.10.1.16. Osprey Power Corporation
California corporation
100 Pine Street, 20th Floor
San Francisco, CA 94111
100% owned by PG&E Generating Energy Group, LLC
General and limited partner in Millennium Power
Partners, L.P. (f/k/a East Syracuse Generating
Company, L.P.); owns Magnolia Power Corporation.
1.2.3.1.1.10.1.16.1. Magnolia Power Corporation
Delaware corporation
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
100% owned by Osprey Power Corporation
General partner in Millenium Power Parners, L.P.
1.2.3.1.1.10.1.17. San Gorgonio Power Corporation
Delaware corporation
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
100% owned by PG&E Generating Energy Group, LLC.
Investment company for the acquisition of the Sea
West Wind Project.
1.2.3.1.1.10.1.18. Kennerdell Power Corporation
Delaware corporation
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
100% owned by PG&E Generating Energy Group, LLC
Formed to own a membership in Kennerdell Generating
Company, LLC
1.2.3.1.1.10.1.18.1. Kennerdell Generating Company, LLC
Delaware limited liability company
7500 Old Georgetown Road, 13th Floor
14
Bethesda, MD 20814-6161
99% owned by Kennerdell Power Corporation, and
1% owned by PG&E Generating Energy Holdings, Inc.
Formed to develop, own, manage, and operate a
merchant electric generating facility to be located
in Western Pennsylvania.
1.2.3.1.1.10.1.19. La Paloma Power Corporation
Delaware corporation
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
100% owned by PG&E Generating Energy Group, LLC
Formed to own a membership interest in La Paloma
Generating Company, LLC.
1.2.3.1.1.10.1.20. Liberty Generating Corporation
Delaware corporation
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
100% owned by PG&E Generating Energy Group, LLC
Formed to own a membership interest in Liberty
Generating Company, LLC.
1.2.3.1.1.10.1.20.1 Liberty Urban Renewal LLC
Delaware limited liability corporation
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
99% owned by Liberty Generating Corporation,
1% owned by PG&E Generating Energy Holdings, Inc.
Formed to own and lease a merchant electric
generating facility to be located in Linden, New
Jersey
1.2.3.1.1.10.1.21. Otay Mesa Power Corporation
Delaware corporation
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
100% owned by PG&E Generating Energy Group, LLC
Formed to own a membership interest in Otay Mesa
Generating Company, LLC.
1.2.3.1.1.10.1.21.1. Otay Mesa Generating Company, LLC
Delaware limited liability company
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
99% owned by Otay Mesa Power Corporation, and
1% owned by PG&E Generating Energy Holdings, Inc.
Formed to develop, manage, and operate a merchant
electric generating facility to be located in San
Diego County, California.
1.2.3.1.1.10.1.22. Bluebonnet Power Corporation
Delaware corporation
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
100% owned by PG&E Generating Energy Group, LLC
Formed to own a membership interest in Bluebonnet
Generating Company, LLC.
1.2.3.1.1.10.1.22.1. Bluebonnet Generating Company, LLC
Delaware limited liability company
15
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
99% owned by Bluebonnet Power Corporation, and
1% owned by PG&E Generating Energy Holdings, Inc.
Formed to develop, own manage, and operate a
merchant electric generating facility to be located
in Texas.
1.2.3.1.1.10.1.23. Harquahala Power Corporation
Delaware corporation
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
100% owned by PG&E Generating Energy Group, LLC
Owns a membership interest in Harquahala Generating
Company, LLC.
1.2.3.1.1.10.1.23.1. Harquahala Generating Company, LLC
Delaware limited liability company
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
99% owned by Harquahala Power Corporation, and
1% owned by PG&E Generating Energy Holdings, Inc.
Formed to develop, own, manage, and operate a
merchant electric generating facility to be located
in Arizona.
1.2.3.1.1.10.1.24. Madison Wind Power Corporation
Delaware corporation
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
100% owned by PG&E Generating Energy Group, LLC
Formed to own a membership interest in Madison Wind
Power, LLC.
1.2.3.1.1.10.1.25. Okeechobee Power Corporation
Delaware corporation
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
100% owned by PG&E Generating Energy Group, LLC
Formed to own a membership interest in Okeechobee
Generating Company, LLC.
1.2.3.1.1.10.1.26. PG&E Dispersed Power Corporation
Delaware corporation
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
100% owned by PG&E Generating Energy Group, LLC
Formed to own membership interest in PG&E Dispersed
Generating Company, LLC.
1.2.3.1.1.10.1.27. Covert Power Corporation
Delaware corporation
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
100% owned by PG&E Generating Energy Group, LLC
Formed to own a membership interest in Covert
Generating Company, LLC.
1.2.3.1.1.10.1.28. Goose Lake Power Corporation
Delaware corporation
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
16
100% owned by PG&E Generating Energy Group, LLC.
Formed to own a membership interest in Goose Lake
Generating Company, LLC
1.2.3.1.1.10.1.28.1. Goose Lake Generating Company, LLC
Delaware limited liability company
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
99% owned by Goose Lake Power Corporation, and
1% owned by PG&E Generating Energy Holdings, Inc.
Merchant electric generating facility to be
constructed in Goose Lake, Illinois
1.2.3.1.1.10.1.29. Meadow Valley Power Corporation
Delaware corporation
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
100% owned by PG&E Generating Energy Group, LLC,
Formed to own a membership interest in
Meadow Valley Generating Company, LLC
1.2.3.1.1.10.1.29.1. Meadow Valley Generating Company, LLC
Delaware limited liability company
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
99% owned by Meadow Valley Power Corporation, and
1% owned by PG&E Generating Energy Holdings, Inc.
Formed to develop, own, manage, and operate a
merchant electric generating facility to be located
near Las Vegas, Nevada.
1.2.3.1.1.10.2. PG&E Generating Power Group, LLC
Delaware limited liability company
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
100% owned by PG&E Generating Company, LLC
Holding company for PG&E Generating Company
operating projects
1.2.3.1.1.10.2.1. Aplomado Power Corporation
California corporation
100 Pine Street, 20th Floor
San Francisco, CA 94111
100% owned by PG&E Generating Power Group, LLC
Investment company for the Panther Creek Project.
1.2.3.1.1.10.2.2. Beale Generating Company
Delaware corporation
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
89% owned by PG&E Generating Power Group, LLC
Holding company
1.2.3.1.1.10.2.2.1. Indian Orchard Generating Company, Inc.
Delaware corporation
7500 Old Georgetown Road
Bethesda, MD 20814-6161
100% owned by Beale Generating Company
49% membership interest in MASSPOWER, L.L.C.
17
1.2.3.1.1.10.2.2.1.1. MASSPOWER, L.L.C.
(formerly MASSPOWER, Inc.)
Delaware limited liability company
One Bowdoin Square
Boston, MA 02114
49% owned by Indian Orchard Generating
Company, Inc.
39% general partnership interest in MASSPOWER,
L.L.C.
1.2.3.1.1.10.2.2.2. JMC Altresco, Inc.
Colorado corporation
One Bowdoin Square
Boston, MA 02114
100% owned by Beale Generating Company
Holding company for subsidiaries/projects acquired
through acquisition of Altresco Financial, Inc.
1.2.3.1.1.10.2.2.2.1. Altresco, Inc.
Colorado corporation
One Bowdoin Square
Boston, MA 02114
100% owned by JMC Altresco, Inc.
General Partners - Pittsfield Generating Company,
L.P.
1.2.3.1.1.10.2.2.2.2. Berkshire Pittsfield, Inc.
Colorado corporation
One Bowdoin Square
Boston, MA 02114
100% owned by JMC Altresco, Inc.
General Partner - Berkshire Feedline Acquisition
Limited Partnership
1.2.3.1.1.10.2.2.2.2.1. Berkshire Feedline Acquisition Limited
Partnership
Massachusetts partnership
One Bowdoin Square
Boston, MA 02114
1% owned by Berkshire Pittsfield, Inc.
Owner of pipeline connecting Pittsfield
Generating Company, L.P. facility and Tennessee
Gas Pipeline Company facilities
1.2.3.1.1.10.2.2.2.3. Pittsfield Partners, Inc.
Colorado corporation
One Bowdoin Square
Boston, MA 02114
100% owned by JMC Altresco, Inc.
Limited Partner - Pittsfield Generating Company,
L.P.
1.2.3.1.1.10.2.2.3. JMC Iroquois, Inc.
Delaware corporation
One Bowdoin Square
Boston, MA 02114
100% owned by Beale Generating Company
4.57% General Partner and .36% Limited Partner
in Iroquois Gas Transmission System, L.P.
18
1.2.3.1.1.10.2.2.3.1. Iroquois Gas Transmission System, L.P.
Delaware partnership
One Bowdoin Square
Boston, MA 02114
4.93% owned by JMC Iroquois, Inc.
Owner of a 375 mile natural gas pipeline extending
through New York State and Connecticut providing
services to markets in New York, New Jersey and
New England
1.2.3.1.1.10.2.2.4. JMC Selkirk Holdings, Inc.
Delaware corporation
One Bowdoin Square
Boston, MA 02114
100% owned by Beale Generating Company
100% ownership of JMC Selkirk, Inc. and JMCS I
Holdings, Inc.
1.2.3.1.1.10.2.2.4.1. JMC Selkirk, Inc.
Delaware corporation
One Bowdoin Square
Boston, MA 02114
100% owned by JMC Selkirk Holdings, Inc.
Managing General Partner and Limited Partner
of Selkirk Cogen Partners, L.P.
Limited Partner interest (46.57%) in
PentaGen Investors, L.P.
1.2.3.1.1.10.2.2.4.1.1. PentaGen Investors, L.P.
Delaware partnership
One Bowdoin Square
Boston, MA 02114
46.57% owned by JMC Selkirk, Inc., and
3.43% owned by JMCS I Holdings, Inc.
Limited partner (5.2502% preferred percentage
Interest) in Selkirk Cogen Partners, L.P.
1.2.3.1.1.10.2.2.4.2. JMCS I Holdings, Inc.
Delaware corporation
One Bowdoin Square
Boston, MA 02114
100% owned by JMC Selkirk Holdings, Inc.
General Partner (.50%) and Limited Partner
(2.93%) interests in PentaGen Investors, L.P.
1.2.3.1.1.10.2.2.5. Orchard Gas Corporation
Delaware corporation
One Bowdoin Square
Boston, MA 02114
100% owned by Beale Generating Company
Administration and monitoring of gas supply for
MASSPOWER project.
1.2.3.1.1.10.2.3. Mason Generating Company
Delaware corporation
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
89% owned by PG&E Generating Power Group, LLC
19
Holding Company
1.2.3.1.1.10.2.3.1. Bowdoin Storage Services, Inc.
Delaware corporation
One Bowdoin Square
Boston, MA 02114
100% owned by Mason Generating Company
Serves as Administrator for PentaGen
Investors, L.P.
1.2.3.1.1.10.2.3.2. J. Makowski Associates, Inc.
Massachusetts corporation
One Bowdoin Square
Boston, MA 02114
100% owned by Mason Generating Company
Serve as Administrator for PentaGen Investors, L.P.
1.2.3.1.1.10.2.3.3. JMC Avoca, Inc.
Delaware corporation
One Bowdoin Square
Boston, MA 02114
100% owned by Mason Generating Company
General Partner - Avoca Natural Gas Storage
Project. Voluntary petition for relief under
Chapter 11 filed on July 29, 1997 with the
United States Bankruptcy Court, District of
Delaware.
1.2.3.1.1.10.2.3.3.1. Avoca Natural Gas Storage
New York general partnership
One Bowdoin Square
Boston, MA 02114
46.88% owned by JMC Avoca, Inc.
1.2.3.1.1.10.2.3.4. JMC Cayuta, Inc.
Delaware corporation
One Bowdoin Square
Boston, MA 02114
100% owned by Mason Generating Company
1.2.3.1.1.10.2.4. Eagle Power Corporation
California corporation
100 Pine Street, 20th Floor
San Francisco, CA 94111
100% owned by PG&E Generating Power Group, LLC
General partner in Logan Generating Company, L.P.,
Granite Generating Company, L.P., and Keystone
Cogeneration Company, L.P.
1.2.3.1.1.10.2.4.1. Granite Generating Company, L.P.
Delaware limited partnership
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
50% owned by Eagle Power Corporation
Limited Partner in Keystone Urban Renewal Limited
Partnership.
1.2.3.1.1.10.2.4.1.1. Granite Water Supply Company, Inc.
Delaware corporation
20
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
100% owned by Granite Generating Company, L.P.
Supplies water for the Logan Project.
1.2.3.1.1.10.2.4.2. Keystone Cogeneration Company, L.P.
Delaware limited partnership
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
50% owned by Eagle Power Corporation
General Partner in Keystone Urban Renewal Limited
Partnership.
1.2.3.1.1.10.2.5. Larkspur Power Corporation
California corporation
100 Pine Street, 20th Floor
San Francisco, CA 94111
100% owned by PG&E Generating Power Group, LLC
General Partner and limited partner in Hermiston
Generating Company, L.P.
1.2.3.1.1.10.2.6. Buckeye Power Corporation
Delaware corporation
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
100% owned by PG&E Generating Power Group, LLC
General Partner in Hermiston Generating Company, L.P.
1.2.3.1.1.10.2.7. Raptor Holdings Company
California corporation
100 Pine Street, 20th Floor
San Francisco, CA 94111
100% owned by PG&E Generating Power Group, LLC
Holding company for Cedar Bay Project entities; owns
PG&E Management Services.
1.2.3.1.1.10.2.7.1. Gray Hawk Power Corporation
Delaware corporation
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
100% owned by Raptor Holdings Company
Investment Company for Cedar Bay Project.
1.2.3.1.1.10.2.7.1.1. Cedar Bay Cogeneration, Inc.
Delaware corporation
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
100% owned by Gray Hawk Power Corporation
General partner in Cedar Bay Generating Company,
Limited Partnership.
1.2.3.1.1.10.2.7.2. PG&E Management Services Company
California corporation
100 Pine Street, 20th Floor
San Francisco, CA 94111
100% owned by Raptor Holdings Company
Inactive.
1.2.3.1.1.10.2.8. Toyan Enterprises
California corporation
21
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
100% owned by PG&E Generating Power Group, LLC
Limited partner in Indiantown Cogeneration, L.P.;
general partner in Indiantown Project.
1.2.3.1.1.10.2.8.1. Indiantown Project Investment Partnership, L.P.
Delaware limited partnership
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
24.817% owned by Toyan Enterprises
General partner in Indiantown Cogeneration, L.P.
1.2.3.1.1.10.2.9. Spruce Power Corporation
Delaware corporation
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
100% owned by PG&E Generating Power Group, LLC
Holds general partnership interest in Spruce Limited
Partnership.
1.2.3.1.1.10.2.9.1. Spruce Limited Partnership
Delaware limited partnership
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
35.5% owned by Spruce Power Corporation
Hold limited partnership interest in Colstrip Energy
Limited Partnership.
1.2.3.1.1.10.2.9.1.1. Colstrip Energy Limited Partnership
Montana limited partnership
314 N. Last Chance Gulch
Helena, MT 59624
37.5% owned by Spruce Limited Partnership
Owns and operates an electric generating facility
in Colstrip, Montana.
1.2.3.1.1.10.2.10. Merlin Power Corporation
California corporation
100 Pine Street, 20th Floor
San Francisco, CA 94111
100% owned by PG&E Generating Power Group, LLC
General partner in Fellows Generating Company, L.P.
1.2.3.1.1.10.2.10.1. Fellows Generating Company, L.P.
Delaware limited partnership
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
51% owned by Merlin Power Corporation
Formed to own, develop, finance, construct,
operate and maintain an electric generation
facility near Fellows, CA.
1.2.3.1.1.10.2.11. Pelican Power Corporation
California corporation
100 Pine Street, 20th Floor
San Francisco, CA 94111
100% owned by PG&E Generating Power Group, LLC
General partner in Okeelanta Power Limited
Partnership.
22
1.2.3.1.1.10.2.11.1. Okeelanta Power Limited Partnership
Florida limited partnership
316 Royal Poinciana Plaza
Palm Beach, FL 33480
37.54% owned by Pelican Power Corporation
Formed to develop, own and operate an electric
generating facility in Okeelanta, Florida.
Voluntarily filed a petition for relief under
Chapter 11 on May 14, 1997.
1.2.3.1.1.10.2.12. Peregrine Power Corporation
California corporation
100 Pine Street, 20th Floor
San Francisco, CA 94111
100% owned by PG&E Generating Power Group, LLC
General partner in Chambers Cogeneration Limited
Partnership.
1.2.3.1.1.10.2.13. Heron Power Corporation
California corporation
100 Pine Street, 20th Floor
San Francisco, CA 94111
100% owned by PG&E Generating Power Group, LLC
General and limited partner in Gator Generating
Company, L.P. (Osceola Project).
1.2.3.1.1.10.2.13.1. Gator Generating Company, L.P.
Delaware limited partnership
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
79.2% owned by Heron Power Corporation
Formed to develop, own, operate and lease (as
lessor) a cogeneration facility (Osceola) in Palm
Beach County, Florida. Filed a voluntary petition
for bankruptcy protection under Chapter 11 on May
14, 1997.
1.2.3.1.1.10.2.14. Jaeger Power Corporation
California corporation
100 Pine Street, 20th Floor
San Francisco, CA 94111
100% owned by PG&E Generating Power Group, LLC
Partner in Northampton Generating Company, L.P.
1.2.3.1.1.10.2.15. Falcon Power Corporation
California corporation
100 Pine Street, 20th Floor
San Francisco, CA 94111
100% owned by PG&E Generating Power Group, LLC
General and Limited partner in Scrubgrass Generating
Company, L.P.; owner of Scrubgrass Power Corp.
1.2.3.1.1.10.2.15.1. Scrubgrass Power Corp.
Pennsylvania corporation
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
100% owned by Falcon Power Corporation
General partner in Scrubgrass Generating Company,
L.P.
23
1.2.3.1.1.10.2.16. Eucalyptus Power Corporation
Delaware corporation
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
100% owned by PG&E Generating Power Group, LLC
General Partner in Citrus Generating, Company, L.P.
1.2.3.1.1.10.2.16.1. Citrus Generating Company, L.P.
Delaware limited partnership
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
49% owned by Cooper's Hawk Power Corporation,
49% owned by Eucalyptus Power Corporation, and
2% owned by PG&E Shareholdings, Inc.
Inactive Company. Originally formed to own and
operate an electric generating facility.
1.2.3.1.1.10.2.17. Cooper's Hawk Power Corporation
California corporation
100 Pine Street, 20th Floor
San Francisco, CA 94111
100% owned by PG&E Generating Power Group, LLC
General partner in Citrus Generating Company, L.P.
1.2.3.1.1.10.2.18. Loon Power Corporation
Delaware corporation
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
100% owned by PG&E Generating Power Group, LLC
Investment company.
1.2.3.1.1.10.3. PG&E Generating Services, LLC
Delaware limited liability company
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
100% owned by PG&E Generating Company, LLC
Holding company for PG&E Generating Company service
entities.
1.2.3.1.1.10.3.1. J. Makowski Pittsfield, Inc.
Delaware corporation
One Bowdoin Square
Boston, MA 02114
100% owned by PG&E Generating Services, LLC
1.2.3.1.1.10.3.2. J. Makowski Services, Inc.
Delaware corporation
One Bowdoin Square
Boston, MA 02114
100% owned by PG&E Generating Services, LLC
1.2.3.1.1.10.3.3. JMCS I Management, Inc.
Delaware corporation
One Bowdoin Square
Boston, MA 02114
100% owned by PG&E Generating Services, LLC
1.2.3.1.1.10.3.4. USGen Fuel Services, Inc.
Delaware corporation
24
One Bowdoin Square
Boston, MA 02114
100% owned by PG&E Generating Services, LLC
1.2.3.1.1.10.3.5. PG&E Construction Agency Services I, LLC
Delaware limited liability company
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
100% owned by PG&E Generating Services, LLC.
Formed to act as construction agent under the Master
Turbine Trust with GE.
1.2.3.1.1.10.3.6. PG&E Construction Agency Services II, LLC
Delaware limited liability company
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
100% owned by PG&E Generating Services, LLC.
Formed to act as construction agent under the Master
Turbine Trust with Mitsubishi.
1.2.3.1.1.10.3.7. PG&E Construction Agency Services III, LLC
Delaware limited liability company
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
100% owned by PG&E Generating Services, LLC.
Formed to act as construction agent under the Master
Turbine Trust.
1.2.3.1.1.10.3.8. PG&E Turbine Acquisition Company, LLC
Delaware limited liability company
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
100% owned by PG&E Generating Services, LLC.
Formed to act as construction agent under the Master
Turbine Trust with GE.
1.2.3.1.1.10.3.9. PG&E Operating Services Holdings, Inc.
California corporation
100 Pine Street, 20th Floor
San Francisco, CA 94111
100% owned by PG&E Generating Services, LLC
General partner in PG&E Generating Company and PG&E
Operating Services Company; sole member of PG&E
National Energy Group Acquisition Company.
1.2.3.1.1.10.3.9.1. USOSC Holdings, Inc.
Delaware corporation
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
100% owned by PG&E Operating Services Holdings, Inc.
Holds a partnership interest in PG&E Operating
Services Company.
1.2.3.1.1.10.3.9.1.1. PG&E Operating Services Company
California general partnership
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
98% owned by PG&E Operating Services Holdings,
Inc.; and 2% owned by USOSC Holdings, Inc.
25
Formed to enter into operations and maintenance
activities.
1.2.3.1.1.10.3.9.2. USGen Holdings, Inc.
Delaware corporation
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
100% Owned by PG&E Operating Services Holdings, Inc.
Holds a partnership interest in PG&E National Energy
Group Company.
1.2.3.1.1.10.3.9.2.1. PG&E National Energy Group Company
(formerly PG&E Generating Company)
California general partnership
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
98% owned by PG&E Operating Services Holdings,
Inc., and 2% owned by USGen Holdings, Inc.
Develops and manages electrical generation
facilities.
1.2.3.1.1.10.3.9.2.1.1. First Oregon Land Corporation
Delaware corporation
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
100% owned by PG&E National Energy Group Company
Formed to enter into real estate options in the
State of Oregon.
1.2.3.1.1.10.3.9.2.1.2. Topaz Power Corporation
Delaware corporation
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
100% owned by PG&E National Energy Group Company
Holds partnership interest in Carneys Point
Generating Company.
1.2.3.1.1.10.3.9.2.1.2.1. Carneys Point Generating Company
Delaware general partnership
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
50% owned by Topaz Power Corporation, and
50% owned by Garnet Power Corporation.
Formed to lease, manage, operate and maintain
a cogeneration facility in Carneys Point, New
Jersey.
1.2.3.1.1.10.3.9.2.1.3. Garnet Power Corporation
Delaware corporation
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
100% owned by PG&E National Energy Group Company
Holds partnership interest in Carneys Point
Generating Company.
1.2.3.1.1.10.3.9.3. PG&E National Energy Group Acquisition Company, LLC
Delaware limited liability company
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
100% owned by PG&E Operating Services Holdings, Inc.
Formed for acquisitions purposes.
26
1.2.3.1.1.11. Valley Real Estate, Inc
California corporation
One Market, Spear Tower, Suite 2400
San Francisco, CA 94105
100% owned by PG&E Shareholdings, Inc.; was formed for
real estate development.
1.2.3.1.2. PG&E Overseas, Inc.
California corporation
One Market, Spear Tower, Suite 2400
San Francisco, CA 94105
A wholly-owned, non-regulated subsidiary of PG&E Enterprises.
U.S. shareholder of PG&E Overseas, Ltd.
1.2.3.1.2.1. PG&E Australia
California corporation
One Market, Spear Tower, Suite 2400
San Francisco, CA 94105
A wholly-owned, non-regulated indirect subsidiary of
PG&E Enterprises through its ownership of PG&E
Overseas, Inc. for business development in
Australia.
1.2.3.1.2.2. PG&E Overseas, Ltd.
Cayman Islands company
Maples & Calder
P.O. Box 309
George Town, Grand Cayman
Cayman Islands, B.W.I.
A wholly-owned, indirect subsidiary of PG&E
Enterprises through its ownership of PG&E Overseas,
Inc.; holding company for PG&E Pacific I, Ltd. and
PG&E Pacific II, Ltd.
1.2.3.1.2.2.1. PG&E Pacific I, Ltd.
Cayman Islands company
Maples & Calder
P.O. Box 309
George Town, Grand Cayman
Cayman Islands, B.W.I.
A non-regulated indirect subsidiary of PG&E
Enterprises through its ownership of PG&E Overseas
Inc.; an overseas distribution company of PG&E
Overseas, Ltd.
1.2.3.1.2.2.2. PG&E Pacific II, Ltd.
Cayman Islands company
Maples & Calder
P.O. Box 309
George Town, Grand Cayman
Cayman Islands, B.W.I.
A non-regulated indirect subsidiary of PG&E
Enterprises through its ownership of PG&E Overseas
Inc.; an overseas distribution company of PG&E
Overseas, Ltd.
1.2.3.1.3. Quantum Ventures
California corporation
One Market, Spear Tower, Suite 2400
San Francisco, CA 94105
27
A wholly-owned, non-regulated subsidiary of PG&E
Enterprises.
Holding company.
1.2.3.1.3.1. PG&E Energy Services Ventures, Inc.
(Formerly PG&E Energy Services Ventures, LLC)
Delaware corporation
345 California St., 23rd Floor
San Francisco, CA 94105
PG&E Energy Services Ventures, Inc. is a wholly owned, non-
regulated indirect subsidiary of PG&E Enterprises through
its ownership in Quantum Ventures. PG&E Energy Services
Ventures, Inc. provides energy-related goods and services.
1.2.3.1.3.2. Barakat & Chamberlin, Inc.
California corporation
345 California Street, Suite 3200
San Francisco, CA 94104
100% owned by Quantum Ventures
Consulting
1.2.3.1.3.3. Creston Financial
California corporation
345 California Street, Suite 3200
San Francisco, CA 94104
100% owned by Quantum Ventures
Financial Consulting
1.2.3.1.3.4. Real Estate Energy Solutions, LLC
Delaware limited liability company
888 S.W. Fifth Avenue, Suite 3200
Portland, OR 97204
50% owned by Quantum Ventures, and
50% owned by Jones Lang LaSalle Management Services, Inc.
Provider of Commercial property management and
energy services.
1.2.3.2. PG&E Gas Transmission Corporation
California corporation
1400 SW Fifth Avenue, Suite 900
Portland, OR 97201
100% owned by PG&E National Energy Group, Inc.
Gas holding company
1.2.3.2.1. PG&E Gas Transmission, Holdings Corporation
(formerly PG&E Gas Transmission, Northeast Corporation)
California corporation
1400 SW Fifth Avenue, Suite 900
Portland, Oregon 97201
100% owned by PG&E Gas Transmission Corporation.
Formed to pursue gas transmission business
opportunities.
1.2.3.2.1.1. North Baja Pipeline, LLC
Delaware limited liability company
1400 SW Fifth Avenue, Suite 900
Portland, OR 97201
100% owned by PG&E Gas Transmission Holdings Corporation.
Formed for the construction and operation of a natural
gas pipeline capable of transporting natural gas from
Arizona to the Mexico border.
1.2.3.2.2. GTN Holdings, LLC
Delaware limited liability company
28
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161-6161
100% owned by PG&E Gas Transmission Corporation.
Formed for the limited purpose of holding stock in PG&E Gas
Transmission, Northwest Corporation
1.2.3.2.2.1. PG&E Gas Transmission, Northwest Corporation
California corporation
1400 SW Fifth Avenue, Suite 900
Portland, Oregon 97201
100% owned by GTN Holdings LLC. Owns and operates gas
transmission pipelines and associated facilities capable of
transporting natural gas from the Canadian-U.S.
border to the Oregon-California border.
1.2.3.2.2.1.1. Pacific Gas Transmission International, Inc.
California corporation
1400 SW Fifth Avenue, Suite 900
Portland, Oregon 97201
100% owned by PG&E Gas Transmission, Northwest
Corporation. Previously owned 99% of the beneficial
interest of PG&E Queensland Unit Trust (which interest
was sold to PG&E Gas Transmission Unit Holdings Pty Ltd.
in September 1997).
1.2.3.2.2.1.2. Pacific Gas Transmission Company
California corporation
1400 SW Fifth Avenue, Suite 900
Portland, Oregon 97201
100% owned by PG&E Gas Transmission, Northwest
Corporation. Formed to pursue business opportunities
in the natural gas business in the United States.
1.2.3.2.2.1.3. Stanfield Hub Services, LLC
Washington limited liability company
1400 SW Fifth Avenue, Suite 900
Portland, Oregon 97201
50% owned by PG&E Gas Transmission, Northwest
Corporation. Formed to pursue opportunities for
construction and operation of natural gas storage
facilities.
1.2.4. PG&E Strategic Capital, Inc.
Delaware corporation
One Market, Spear Tower, Suite 2400
San Francisco, CA 94105
PG&E Strategic Capital, Inc. is a wholly-owned subsidiary of PG&E
Corporation. PG&E Strategic Capital, Inc. was
formed for general business purposes.
1.2.5. PG&E Corporation Support Services, Inc.
Delaware corporation
One Market, Spear Tower, Suite 2400
San Francisco, CA 94105
PG&E Corporation Support Services, Inc. is a wholly-
owned subsidiary of PG&E Corporation that provides general
corporate support services to the PG&E Corporation family outside
the State of California.
1.2.6. PG&E National Energy Group, LLC
Delaware limited liability company
7500 Old Georgetown Road, 13th Floor
29
Bethesda, MD 20814-6161
100% owned by PG&E Corporation and was formed for the
limited purpose of holding stock in PG&E National Energy
Group, Inc.
1.2.7. The PG&E Corporation Foundation
California corporation
One Market, Spear Tower, Suite 2400
San Francisco, CA 94105
The PG&E Corporation Foundation is a wholly-owned non-profit
entity of PG&E Corporation that was formed and operates
exclusively for charitable, scientific, educational and literary
purposes.
1.2.8. PG&E Ventures ePro, LLC
Delaware corporation
One Market, Spear Tower, Suite 2400
San Francisco, CA 94105
PG&E Ventures ePro, LLC is a wholly-owned subsidiary of PG&E
Corporation that was formed to make and hold an investment in an
e-procurement exchange.
1.2.9. PG&E Ventures, LLC
Delaware corporation
One Market, Spear Tower, Suite 2400
San Francisco, CA 94105
PG&E Ventures, LLC incorporated under the laws of the State of
Delaware, is a wholly-owned subsidiary of PG&E Corporation that
was formed for the purpose of holding interests in other
businesses, financing and other transactions.
1.2.9.1. Pacific Venture Capital, LLC
Delaware corporation
One Market, Spear Tower, Suite 2400
San Francisco, CA 94105
Pacific Venture Capital, LLC is a wholly-owned subsidiary of
PG&E Ventures, LLC that was formed to build and manage a
portfolio of capital investments in growing energy and
telecommunications companies.
1.2.9.2. PG&E Telecom, LLC
Delaware corporation
One Market, Spear Tower, Suite 2400
San Francisco, CA 94105
PG&E Telecom, LLC is a wholly-owned subsidiary of PG&E
Ventures, LLC that was formed for the purpose of engaging in
telecommunications and related business activities.
1.2.9.2.1. PG&E Capital, LLC
Delaware corporation
One Market, Spear Tower, Suite 2400
San Francisco, CA 94105
PG&E Capital, LLC is a wholly-owned subsidiary of
PG&E Telecom, LLC, formed for financing and other
transactions related to the energy industry.
2. A brief description of the properties of Claimant and each of its subsidiary
public utility companies used for the generation, transmission, and distribution
of electric energy for sale, or for the production, transmission, and
distribution of natural or manufactured gas, indicating the producing fields,
gas manufacturing plants, and electric and gas distribution facilities,
including all such
30
properties which are outside the State in which Claimant and its subsidiaries
are organized and all transmission or pipelines which deliver or receive
electric energy or gas at the borders of such State.
2.1 Claimant and its subsidiaries, other than Pacific Gas and Electric
Company, are not public utility companies for the purposes of the Public
Utility Holding company Act of 1935 and do not own any such properties.
2.2 Pacific Gas and Electric Company is a public utility company. Pacific Gas
and Electric Company owns and operates the following generation plants,
all located in California:
Net Operating
Generation County Number of Capacity in
Type Location Units Kilowatts (kW)
========== ======== ========= =============
Hydroelectric:
Conventional 16 counties
Plants in Northern
and Central
California 107 2,684,100
Helms Pumped
Storage Plant Fresno 3 1,212,000
--- ---------
Hydroelectric Subtotal 110 3,896,100
--- ---------
Steam Plants:
Humboldt Bay Humboldt 2 105,000
Hunters Point (1) San Francisco 3 377,000
--- ---------
Steam Subtotal 5 482,000
--- ---------
Combustion Turbines:
Hunters Point (1) San Francisco 1 52,000
Mobile Turbines (2) Humboldt and
Mendocino 3 45,000
--- ---------
Combustion Turbines Subtotal 4 97,000
Nuclear:
Diablo Canyon San Luis Obispo 2 2,160,000
--- ---------
Total 121 6,635,100
--- ---------
(1) In July 1998, the Utility reached an agreement with the City and
County of San Francisco regarding the Hunters Point fossil-fueled
power plant, which the Independent System Operator (ISO) has
designated as a "must run" facility. The agreement expresses the
Utility's intention to retire the plant when it is no longer needed
by the ISO.
(2) Listed to show capability: subject to relocation within the system
as required.
Pacific Gas and Electric Company's electric transmission system consists of
approximately 18,376 circuit miles of interconnected transmission lines of 60
kilovolt (kV) to 500 kV and transmission substations having a capacity of
approximately 39,859,000 kilovolt-amperes (Kva), including spares, excluding
power plant interconnection facilities. Energy is distributed to customers
through approximately 115,131 circuit miles of distribution system and
distribution substations having a capacity of approximately 23,524,000 kVa.
In 1998, Pacific Gas and Electric Company relinquished control, but not
ownership, of its transmission facilities to the ISO. The operation of the
transmission system in California, including facilities owned by Pacific Gas and
Electric Company, is under the control of the ISO in connection with the
electric industry restructuring.
Pacific Gas and Electric Company owns and operates an integrated gas
transmission, storage, and distribution system in California. The Utility's
system consisted
31
of approximately 6.261 miles of transmission pipelines, three
gas storage facilities, and approximately 37,958 miles of gas distribution
lines.
3. The following information for the year ending December 31, 2000 with
respect to claimant and each of its subsidiary public utility companies:
a) Number of kilowatt-hours (kWh) of electric energy sold ( at retail or
wholesale) and thousand cubic feet (Mcf) of natural or manufactured gas
distributed at retail.
b) Number of kwh of electric energy and Mcf of natural or manufactured gas
distributed at retail outside the State in which each such company is
organized.
c) Number of kwh of electric energy and Mcf of natural or manufactured gas
sold at wholesale outside the State in which each such company is
organized, or at the State line.
d) Number of kwh of electric energy and Mcf of natural or manufactured gas
purchased outside the State in which each such company is organized, or at
the State line.
3.1 Claimant and its subsidiaries, other than Pacific Gas and Electric
Company, are not public utility companies for the purposes of the Public
Utility Holding company Act of 1935.
32
3.2 Pacific Gas and Electric company is a public utility company located in
the State of California.
Year
Pacific Gas and Electric Company ending
(in millions) 12/31/00
--------
Number of kwh of electric energy
sold at retail or wholesale 81,967
Number of Mcf of natural or
manufactured gas distributed
at retail 887
Number of kwh of electric energy
distributed at retail outside
the State 0
Number of Mcf of natural or
manufactured gas distributed at
retail outside the State 0
Number of kwh of electric energy
sold at wholesale outside the
State or at the State line 0
Number of Mcf of natural or
manufactured gas sold at wholesale
outside the State or at the State
line 39
Number of kwh of electric energy
purchased outside the State or
at the State line 0
Number of Mcf of natural or
manufactured gas purchased outside
the State or at the State line 293
4. The following information for the reporting period with respect to
claimant and each interest it holds directly or indirectly in an EWG or a
foreign utility holding company, stating monetary amounts in United States
dollars:
a) Name, location, business address and description of the facilities used by
the EWG or foreign utility company for the generation, transmission and
distribution or electric energy for sale or for the distribution at retail
of natural or manufactured gas.
b) Name of each system company that holds an interest in such EWG or foreign
utility company and description of the interest held.
c) Type and amount of capital invested, directly or indirectly, by the
holding company claiming exemption; any direct or indirect guarantee of
the security of the EWG or foreign utility company by the holding company
claiming exemption; and any debt or other financial obligation for which
there is recourse, directly or indirectly, to the holding company claiming
exemption or another system company other than the EWG or foreign utility
company.
d) Capitalization and earnings of the EWG or foreign utility company during
the reporting period.
e) Identify any service, sales or construction contract(s) between the EWG or
foreign utility company and a system company, and describe the services to
be rendered or goods sold and fees or revenues under such agreements.
4.1. PITTSFIELD GENERATING COMPANY, L.P. [EWG]
a) Pittsfield Generating Company, L.P.
235 Merrill Road
Pittsfield, MA 01202
33
Pittsfield Generating Company, L.P. is a 165 megawatt (MW) combined
cycle, natural gas-fired cogeneration facility (the "Facility")
selling power to Commonwealth Electric Company, Cambridge Electric
Company, and USGen New England, Inc. and selling steam to General
Electric Company.
b) Enterprises owns 100% of PG&E Shareholdings, Inc., which owns 100%
of PG&E Generating Company, LLC (formerly U.S. Generating Company,
LLC), which owns 100% of PG&E Generating Power Group, LLC (formerly
USGen Power Group, LLC), which owns 89% of Beale Generating Company
(formerly J. Makowski Company, Inc.), which owns 100% of JMC
Altresco, Inc., which through its subsidiaries, Altresco, Inc. (99%
GP) and Pittsfield Partners, Inc. (1% L.P.), owns 100% of Pittsfield
Generating Company, L.P.
c) J. Makowski Company, Inc. acquired Pittsfield Generating Company,
L.P. for $4,330,000, plus liabilities valued at $3,092,000 for a
total investment of $7,422,000 on September 21, 1993. The Facility
went into commercial operation on September 1, 1990. Enterprises
acquired an interest in the Facility on August 26, 1994, as a result
of the acquisition of J. Makowski Company, Inc. by its second-tier
subsidiary, Beale Generating Company.
d) Total equity as of December 31, 2000 = $26,903,931. Net income for
the twelve months ended December 31, 2000 = $8,295,070.
e) PG&E Operating Services Company (formerly, U.S. Operating Services
Company) provides operations and maintenance services to Pittsfield
Generating Company, L.P. PG&E Operating Services Company earns a
base fee of $400,000 per annum plus performance bonuses, together
with reimbursement of its direct costs.
Pittsfield Generating Company, L.P. has gas enabling agreements with
Selkirk Cogen Partners, MASSPOWER, and PG&E Energy Trading - Gas
Corporation pursuant to which it may enter into
non-firm/interruptible gas purchase and sales transactions at market
pricing, from time to time.
Pittsfield Generating Company, L.P. has a fuel transportation
agreement with Berkshire Gas Company, an unaffiliated entity which
leases a section of pipeline serving the Facility from Berkshire
Feedline Acquisition Limited Partnership. Berkshire Feedline
Acquisition Limited Partnership receives lease payments of
approximately $1.8 million per annum on this section of pipeline.
Pittsfield Generating Company, L.P. has an enabling agreement with
PG&E Energy Trading - Power, L.P. pursuant to which it may make
wholesale sales of electricity and purchase and sell other ancillary
services from time to time.
4.2. Selkirk Cogen Partners, L.P. [EWG]
a) Selkirk Cogen Partners, L.P.
24 Power Park Drive
Selkirk, NY 12158
Selkirk Cogen Partners, L.P. Unit I is an 80 MW natural gas fired
dispatchable cogeneration facility selling power to Niagara Mohawk
Power Corporation. Selkirk Cogen Partners, L.P. Unit II is a 265 MW
natural gas fired dispatchable cogeneration facility (Unit I and
Unit II together, the "Facility") selling power to Consolidated
Edison Company of New York, Inc.
b) Enterprises owns 100% of PG&E Shareholdings, Inc., which owns 100%
of PG&E Generating Company, LLC (formerly US Generating Company,
LLC), which owns 100% of PG&E Generating Power Group, LLC (formerly,
USGen Power Group, LLC), which owns 89% of Beale Generating Company
(formerly J. Makowski Company, Inc.), which owns 100% of JMC Selkirk
Holdings, Inc., which owns 100% of JMC Selkirk, Inc. and 100% of
JMCS I Holdings, Inc. JMC Selkirk, Inc. directly holds .0911% and
1.9506% general partner and limited partner interests, respectively,
in Selkirk Cogen Partners, L.P. JMC Selkirk, Inc also holds a 46.57%
limited partnership interest in
34
PentaGen Investors, L.P. and JMCS I Holdings, Inc. holds a .50%
general partner interest and 2.93% limited partner interest in
PentaGen Investors, L.P. PentaGen Investors, L.P. holds a 5.2502%
limited partner interest in Selkirk Cogen Partners, L.P.
c) JMC Selkirk, Inc. and PentaGen Investors, L.P. made equity
contributions of $1,058,355 and $3,666,445, respectively, on October
21, 1992. Unit I of the Facility went into commercial operation on
April 17, 1992. Unit II of the Facility went into commercial
operation on September 1, 1994. Enterprises acquired an interest in
the Facility on August 26, 1994, as a result of the acquisition of
J. Makowski Company, Inc. by its second-tier subsidiary, Beale
Generating Company.
d) Total equity as of December 31, 2000 = $(49,646,790).
Net income for the twelve months ended December 31, 2000 =
$42,413,926.
e) JMCS I Management, Inc. provides administrative services to Selkirk
Cogen Partners, L.P. JMCS I Management, Inc. charges a contractually
established hourly rate which covers its labor costs (including
salary and benefits), overhead, and profit.
Selkirk Cogen Partners, L.P. has gas enabling agreements with PG&E
Energy Trading - Gas Corporation, Pittsfield Generating Company, and
MASSPOWER pursuant to which it may enter into non-firm/interruptible
gas purchase and sales transactions at market pricing, from time to
time.
Selkirk Cogen Partners, L.P. has an enabling agreement with PG&E
Energy Trading - Power, L.P. pursuant to which it may make wholesale
sales of electricity and purchase and sell other ancillary services
from time to time.
4.3. KEYSTONE Urban Renewal LIMITED PARTNERSHIP [EWG]
a) Keystone Urban Renewal Limited Partnership Box 169-C, Route 130
South, Swedesboro, NJ 08085
Keystone Urban Renewal Limited Partnership is a 225 MW pulverized
coal-fired dispatchable generation facility (the "Facility") selling
power to Connectiv (formerly Atlantic Energy Company).
b) Enterprises owns 100% of PG&E Shareholdings, Inc., which owns 100%
of PG&E Generating Company, LLC, which owns 100% of PG&E Generating
Power Group, LLC, which owns 100% of Eagle Power Corporation, which
owns a 50% combined general and limited partnership interest in
Keystone Cogeneration Company, L.P., which owns a 99% interest in
Keystone Urban Renewal Limited Partnership. The other 1% interest is
held by Granite Generating Company, L.P., which is also 50% owned by
PG&E Corporation through Enterprises and other subsidiaries.
c) Eagle Power Corporation made a capital contribution of $50 to
Keystone Urban Renewal Limited Partnership on September 13, 1991.
Enterprises, through PG&E National Energy Group Holdings
Corporation, PG&E Generating Company, LLC, PG&E Generating Power
Group, LLC, and Eagle Power Corporation, owns a 50% interest in
Keystone Urban Renewal Limited Partnership which owns the Facility
and leases it to Logan Generating Company, L.P. The Facility went
into commercial operation on September 22, 1994.
d) Total equity as of December 31, 2000 = $100.
Net income after taxes for the twelve months ended December 31, 2000
= $0.
e) None.
4.4. LOGAN GENERATING COMPANY, L.P. [EWG]
a) Logan Generating Company, L.P.
35
Box 169-C, Route 130 South, Swedesboro, NJ 08085
Logan Generating Company, L.P. is a 225 MW pulverized coal fired
dispatchable generation facility (the "Facility") selling power to
Connectiv (formerly Atlantic Electric Company).
b) Enterprises owns 100% of PG&E Shareholdings, Inc., which owns 100%
of PG&E Generating Company, LLC, which owns 100% of PG&E Generating
Power Group, LLC, which owns 100% of Eagle Power Corporation. Eagle
Power Corporation is a 49% general and 1% limited partner in Logan
Generating Company, L.P.
c) Eagle Power Corporation made a capital contribution of $36,249,978
to Logan Generating Company, L.P. on October 31, 1994. Enterprises,
through PG&E Shareholdings, Inc., PG&E Generating Company, LLC, PG&E
Generating Power Group, LLC, and Eagle Power Corporation, owns a 50%
interest in Logan Generating Company, L.P. which leases the Facility
from Keystone Urban Renewal Limited Partnership. The Facility went
into commercial operation on September 22, 1994.
d) Total equity as of December 31, 2000 = $103,530,514.
Net income after taxes for the twelve months ended December 31, 2000
= $36,722,858.
e) PG&E National Energy Group Company (formerly PG&E Generating
Company) provides management services to Logan Generating Company,
L.P. PG&E National Energy Group Company earns a base fee of $400,000
per annum.
PG&E Operating Services Company provides operations and maintenance
services to Logan Generating Company, L.P. PG&E Operating Services
Company earns a base fee of $500,000 per annum plus performance
bonuses.
Logan Generating Company, L.P. has an enabling agreement with PG&E
Energy Trading - Power, L.P. pursuant to which it may make wholesale
sales of electricity and purchase and sell other ancillary services
from time to time.
4.5. HERMISTON GENERATING COMPANY, L.P. [EWG]
a) Hermiston Generating Company, L.P.
Box 930, Hermiston, OR 97838
Hermiston Generating Company, L.P. is a 474 MW natural gas fired
dispatchable cogeneration facility (the "Facility") selling power to
PacifiCorp. PacifiCorp owns a 50% undivided interest in the
Facility.
b) Enterprises owns 100% of PG&E Shareholdings, Inc., which owns 100%
of PG&E Generating Company, LLC, which owns 100% of PG&E Generating
Power Group, LLC, which owns 100% each of Larkspur Power Corporation
and Buckeye Power Corporation. Larkspur Power Corporation is a 79%
general and 1% limited partner, and Buckeye Power Corporation is a
20% general partner, in Hermiston Generating Company, L.P.
c) Larkspur Power Corporation made a capital contribution of
$30,852,148 to Hermiston Generating Company, L.P. on October 30,
1996. Buckeye Power Corporation made a capital contribution of
$7,713,037 to Hermiston Generating Company, L.P. on October 30,
1996. Enterprises, through PG&E Shareholdings, Inc., PG&E Generating
Company, LLC, PG&E Generating Power Group, LLC, Larkspur Power
Corporation, and Buckeye Power Corporation, owns a 100% interest in
Hermiston Generating Company, L.P. which owns a 50% undivided
interest in the Facility. The Facility went into commercial
operation on July 1, 1996.
d) Total equity as of December 31, 2000 = $64,004,324.
Net income for the twelve months ended December 31, 2000 =
$12,895,848.
36
e) PG&E National Energy Group Company (formerly PG&E Generating
Company) provides management services to Hermiston Generating
Company, L.P. PG&E National Energy Group Company earns a base fee of
$250,000 per annum.
PG&E Operating Services Company provides operations and maintenance
services to Hermiston Generating Company, L.P. PG&E Operating
Services Company earns a base fee of $900,000 per annum plus
performance bonuses.
PG&E Gas Transmission, Northwest Corporation provides gas
transmission services to Hermiston Generating Company, L.P. PG&E Gas
Transmission, Northwest Corporation earns a fixed and variable
charge based upon the volume of gas transported resulting in
revenues of $235 million for the year-ended December 31, 2000.
4.6. MASSPOWER [EWG]
a) MASSPOWER
750 Worcester Street
Indian Orchard, MA 01151
MASSPOWER is a 240 MW natural gas-fired combined cycle cogeneration
facility located in Springfield, MA, selling power to Western
Massachusetts Electric Company, Boston Edison Company, Commonwealth
Electric Company and Massachusetts Municipal Wholesale Electric
Company, and selling steam to Monsanto Company.
b) Enterprises owns 100% of PG&E National Energy Group Holdings
Corporation (formerly, PG&E Shareholdings, Inc.), which owns 100% of
PG&E Generating Company, LLC (formerly U.S. Generating Company,
LLC), which owns 100% of PG&E Generating Power Group LLC (formerly
USGen Power Group, LLC), which owns 89.1% of Beale Generating
Company (formerly J. Makowski Company, Inc.) which owns 100% of
Indian Orchard Generating Company, Inc., which holds a 49%
membership interest in MASSPOWER, L.L.C. (formerly MASSPOWER, Inc.),
which holds a 30% general partner interest in MASSPOWER.
c) Capital contributions of $11,400,00 were made to MASSPOWER on
September 1, 1993 by Masspower, Inc. and Springfield Generating
Company, L.P.. The facility went into commercial operations on
September 1, 1993.
d) Total equity as of December 31, 2000 = $41,222,845.
Net income for the twelve months ended December 31, 2000 =
$28,351,992.
e) J. Makowski Services, Inc. provides administrative services to
MASSPOWER. J. Makowski Services, Inc. charges a contractually
established hourly rate that covers its labor costs (including
salary and benefits), overhead and profit.
MASSPOWER has gas enabling agreements with Selkirk Cogen Partners,
L.P., Pittsfield Generating Company, L.P., and PG&E Energy Trading -
Gas Corporation pursuant to which it may enter into non
firm/interruptible gas purchase and sales transactions at market
pricing, from time to time.
MASSPOWER has an enabling agreement with PG&E Energy Trading -
Power, L.P. pursuant to which it may make wholesale sales of
electricity and purchase and sell other ancillary services from time
to time.
4.7. MILLENNIUM POWER PARTNERS, L.P. [EWG]
a) Millennium Power Partners, L.P.
P.O. Box 588
10 Sherwood Lane
Charlton, Massachusetts 01508-0588
37
Millennium Power Partners, L.P. is currently under construction,
with commercial operation expected in the spring of 2001. Millennium
Power Partners, L.P. will be a nominal 360 MW natural gas-fired
combined cycle merchant power facility which anticipates selling
power into the New England Power Pool on a spot basis as well as
under short-to medium-term bilateral contracts.
b) Enterprises owns 100% of PG&E Shareholdings, Inc., which owns 100%
of PG&E Generating Company, LLC (formerly U.S. Generating Company,
LLC), which owns 100% of PG&E Generating Energy Group, LLC (formerly
USGen Energy Group, LLC), which owns 100% of Osprey Power
Corporation, which owns 100% of Magnolia Power Corporation. Magnolia
Power Corporation is a 50% general partner and Osprey Power
Corporation is a 49.5% general partner and 0.5% limited partner in
Millennium Power Partners, L.P.
c) Plant construction is being financed through loans from PG&E
Generating Company, LLC or its subsidiaries.
d) Total equity as of December 31, 2000 = $0.
Net income for the twelve months ended December 31, 2000 = $0.
e) PG&E Shareholdings, Inc. provides management services to Millennium
Power Partners, L.P. PG&E National Energy Group Holdings Corporation
charges a contractual rate for management services.
PG&E Operating Services Company provides operations and maintenance
services to Millennium Power Partners, L.P. PG&E Operating Services
Company earns a base fee (upon the commencement of construction) of
$350,000 per annum plus performance bonuses.
Millennium Power Partners, L.P. has an enabling agreement with PG&E
Energy Trading - Power, L.P. pursuant to which it may make wholesale
sales of electricity and purchase and sell other ancillary services
from time to time.
Millennium Power Partners, L.P. has an enabling agreement with PG&E
Energy Trading - Gas Corporation pursuant to which it may enter into
non firm/interruptible gas purchase and sales transactions at market
pricing, from time to time.
4.8. CEDAR BAY GENERATING COMPANY, LIMITED PARTNERSHIP (EWG)
a) Cedar Bay Generating Company, Limited Partnership
9640 Eastport Road
Jacksonville, FL 32218
Cedar Bay Generating Company, Limited Partnership owns and operates
a 250 MW coal-fired electric generating facility in Jacksonville,
Florida, selling power to Florida Power & Light Company, and selling
steam to Smurfit Stone Container Corporation (formerly Stone
Container Corporation).
b) Enterprises owns 100% of PG&E Shareholdings, Inc., which owns 100%
of PG&E Generating Company, LLC, which owns 100% of PG&E Generating
Power Group, LLC, which owns 100% of Raptor Holdings Company, which
owns 80.12% of Gray Hawk Power Corporation, which owns 100% of Cedar
Bay Cogeneration, Inc. Cedar Bay Cogeneration, Inc. is a 78% general
partner and a 2% limited partner in Cedar Bay Generating Company,
Limited Partnership.
c) Raptor Holdings Company made a total capital contribution of
$44,000,000 for approximately 80% of voting common stock of Gray
Hawk Corporation in 1994. Gray Hawk Power Corporation is capitalized
with voting common stock, non-voting common stock, and preferred
stock. Raptor Holdings Company, through Gray Hawk Power Corporation,
and Cedar Bay Cogeneration, Inc. owns an approximate 64% net voting
interest in Cedar Bay Generating Company, L.P. The facility went
into commercial operation in January 25, 1994.
d) Total equity as of December 31, 2000 = $(47,506,066).
38
Net loss for the twelve months ended December 31, 2000 =
$(20,162,334).
e) PG&E National Energy Group Company (formerly PG&E Generating
Company) provides management services to Cedar Bay Generating
Company, Limited Partnership. PG&E National Energy Group Company
charges a contractual rate for management services.
PG&E Operating Services Company provides operations and maintenance
services to Cedar Bay Generating Company, Limited Partnership. PG&E
Operating Services Company charges a contractual amount for their
services.
4.9. NORTHAMPTON GENERATING COMPANY, L.P. (EWG)
a) Northampton Generating Company, L.P.
One Horwith Drive
Northampton, PA 18067
Northampton Generating Company, L.P. owns and operates an
approximately 98 MW anthracite waste coal-fired electric generating
facility in Northampton, Pennsylvania, selling power to Metropolitan
Edison Company, and selling steam to unrelated industrial
operations.
b) Enterprises owns 100% of PG&E Shareholdings, Inc., which owns 100%
of PG&E Generating Company, LLC, which owns 100% of PG&E Generating
Power Group, LLC, which owns 100% of Jaeger Power Corporation.
Jaeger Power Corporation is a 48% general partner and a 2% limited
partner in Northampton Generating Company, L.P.
c) Jaeger Power Corporation made a capital contribution of $20,193,000
to Northampton Generating Company, L.P. on October 1, 1995.
Enterprises, through PG&E Shareholdings, Inc., PG&E Generating
Company, LLC, PG&E Generating Power Group, LLC, and Jaeger Power
Corporation, owns a 50% interest in Northampton Generating Company,
L.P. The facility went into commercial operation on August 28, 1995.
d) Total equity as of December 31, 2000 = $47,892,668. Net income for
the twelve months ended December 31, 2000 = $6,772,514.
e) PG&E National Energy Group Company (formerly PG&E Generating
Company) provides management services to Northampton Generating
Company, L.P. PG&E National Energy Group Company charges a
contractual rate for management services.
PG&E Operating Services Company provides operations and maintenance
services to Northampton Generating Company, L.P. PG&E Operating
Services Company charges a contractual amount for their services.
4.10. SCRUBGRASS GENERATING COMPANY, L.P. (EWG)
a) Scrubgrass Generating Company, L.P.
RR1 Lisbon Road
Kennerdell, PA 16374
Scrubgrass Generating Company, L.P. leases an 87 MW waste coal-fired
electric generating facility in Venango County, Pennsylvania, to
Buzzard Power Corporation.
b) Enterprises owns 100% of PG&E Shareholdings, Inc), which owns 100%
of PG&E Generating Company, LLC, which owns 100% of PG&E Generating
Power Group, LLC, which owns 100% of Falcon Power Corporation, which
owns 100% of Scrubgrass Power Corp. Falcon Power Corporation is a
24.63% general partner and a .5% limited partner, and Scrubgrass
Power Corp. is a 24.87% general partner, in Scrubgrass Generating
Company, L.P.
c) Falcon Power Corporation, on a consolidated basis, made a total
capital contribution of $21,170,000 to Scrubgrass Generating
Company, L.P. in 1993. Enterprises, through PG&E Shareholdings,
Inc., PG&E Generating Company, LLC, PG&E Generating Power Group,
39
LLC, and Falcon Power Corporation, owns a 50% interest in Scrubgrass
Generating Company, L.P. The facility went into commercial operation
on October 15, 1993.
d) Total equity as of December 31, 2000 = $78,119,011. Net income for
the twelve months ended December 31, 2000 = $10,200,605.
e) PG&E National Energy Group Company (formerly PG&E Generating
Company) provides management services to Scrubgrass Generating
Company, L.P. PG&E National Energy Group Company charges a
contractual rate for management services.
PG&E Operating Services Company provides operations and maintenance
services to Scrubgrass Generating Company, L.P. PG&E Operating
Services Company charges a contractual amount for their services.
4.11. INDIANTOWN COGENERATION, L.P. [EWG]
a) Indiantown Cogeneration, L.P.
19140 SW Warfield Boulevard
Indiantown, FL 34956
Indiantown Cogeneration, L.P. owns and operates a 330 MW coal-fired
electric generating facility in Indiantown, Florida, selling power
to Florida Power & Light Company, and selling steam to Caulkins
Indiantown Citrus Co.
b) Enterprises owns 100% of PG&E Shareholdings, Inc., which owns 100%
of PG&E Generating Company, LLC, which owns 100% of PG&E Generating
Power Group, LLC, which owns 100% of Toyan Enterprises. Toyan
Enterprises is a 30.05% limited partner in Indiantown Cogeneration,
L.P. and a 24.81% general partner in Indiantown Project Investment
Partnership, L.P., which is a 19.95% general partner in Indiantown
Cogeneration, L.P.
c) Toyan Enterprises, on a consolidated basis, made a capital
contribution of $67,200,000 for a 48% equity interest to Indiantown
Cogeneration, L.P. on December 26, 1995. A portion of the original
48% equity interest was sold to a third party during 1999.
Enterprises, through PG&E Shareholdings, Inc., PG&E Generating
Company, LLC, PG&E Generating Power Group, LLC, and Toyan
Enterprises, currently owns a 35% interest in Indiantown
Cogeneration, L.P. The facility went into commercial operation on
December 22, 1995.
d) Total equity as of December 31, 2000 = $84,979,674. Net income for
the twelve months ended December 31, 2000 = $22,135,124.
e) PG&E National Energy Group Company (formerly PG&E Generating
Company) provides management services to Indiantown Cogeneration,
L.P. PG&E National Energy Group Company charges a contractual rate
for management services.
PG&E Operating Services Company provides operations and maintenance
services to Indiantown Cogeneration, L.P. PG&E Operating Services
Company charges a contractual rate for their services.
Indiantown Cogeneration, L.P. has an enabling agreement with PG&E
Energy Trading - Power, L.P. pursuant to which it may make wholesale
sales of electricity and purchase and sell other ancillary services
from time to time.
4.12. CHAMBERS COGENERATION LIMITED PARTNERSHIP [EWG]
a) Chambers Cogeneration Limited Partnership
500 Shell Road
Carneys Point, NJ 08069-2926
Chambers Cogeneration Limited Partnership owns and operates a 252 MW
coal-fired electric generating facility in Carneys Point, New
Jersey, selling power to Connectiv (formerly Atlantic Energy
Company), and selling power and steam to DuPont.
40
b) Enterprises owns 100% of PG&E Shareholdings, Inc., which owns 100%
of PG&E Generating Company, LLC, which owns 100% of PG&E Generating
Power Group, LLC, which owns 100% of Peregrine Power Corporation.
Peregrine Power Corporation is a 50% general partner in Chambers
Cogeneration Limited Partnership.
c) Peregrine Power Corporation made a capital contribution of
$50,400,000 to Chambers Cogeneration Limited Partnership in 1994.
Enterprises, through PG&E Shareholdings, Inc., PG&E Generating
Company LLC, PG&E Generating Power Group, LLC, and Peregrine Power
Corporation, owns a 50% interest in Chambers Cogeneration Limited
Partnership. The facility went into commercial operation on June 27,
1994.
d) Total equity as of December 31, 2000 = $91,278,094. Net income for
the twelve months ended December 31, 2000 = $23,757,096.
e) PG&E National Energy Group Company (formerly PG&E Generating
Company) provides management services to Chambers Cogeneration
Limited Partnership. PG&E National Energy Group Company charges a
contractual rate for management services.
PG&E Operating Services Company provides operations and maintenance
services to Chambers Cogeneration Limited Partnership. PG&E
Operating Services Company charges a contractual rate for their
services.
Chambers Cogeneration Limited Partnership has an enabling agreement
with PG&E Energy Trading - Power, L.P. pursuant to which it may make
wholesale sales of electricity and purchase and sell other ancillary
services from time to time.
4.13. ATHENS GENERATING COMPANY, L.P.
a) Athens Generating Company, L.P.
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
Athens Generating Company, L.P. is currently developing a 1,080 MW
natural gas-fired electric generating merchant power facility in
Athens, New York, with commercial operation expected in the summer
of 2003.
b) Enterprises owns 100% of PG&E Shareholdings, Inc., which owns 100%
of PG&E Generating Company, LLC, which owns 100% of PG&E Generating
Energy Group, LLC, which owns 100% each of Black Hawk Power
Corporation and Peach I Power Corporation. Black Hawk Power
Corporation is a 49% general partner and 2% limited partner, and
Peach I Power Corporation is a 49% general partner, in Athens
Generating Company, L.P.
c) Project is in the development stage. Athens Generating Company, L.P.
has not been capitalized.
d) Total equity as of December 31, 2000 = $0. Net income for the twelve
months ended December 31, 2000 = $0.
e) N/A
4.14. LA PALOMA GENERATING COMPANY, LLC
a) La Paloma Generating Company, LLC
1760 W. Skyline Road
McKittrick, CA 93251
La Paloma Generating Company, LLC is currently constructing a 1,020
MW gas-fired electric generating merchant power facility in Kern
County, California. It anticipates selling power into the California
market on a spot basis as well as under short-to-medium term
bilateral contracts.
41
b) Enterprises owns 100% of PG&E Shareholdings, Inc., which owns 100%
of PG&E Generating Company, LLC, which owns 100% of PG&E Generating
Energy Group, LLC, which owns 100% each of La Paloma Power
Corporation and PG&E Generating Energy Holdings, Inc. PG&E
Generating Energy Holdings, Inc. owns a 1% membership interest and
La Paloma Power Corporation owns a 99% membership interest in La
Paloma Generating Company, LLC.
c) The La Paloma Project is being financed through a synthetic lease.
La Paloma Generating Company, LLC, has not been capitalized.
d) Total equity as of December 31, 2000 = $0. Net income for the twelve
months ended December 31, 2000 = $0.
e) PG&E National Energy Group Company provides operation, maintenance
and management services to La Paloma Generating Company, LLC. PG&E
National Energy Group Company charges a contractual rate for their
services.
La Paloma Generating Company, LLC has electric and gas purchase/sale
agreements with PG&E Energy Trading - Power, L.P. pursuant to which
it may make wholesale sales of electricity, purchases of natural
gas, and purchase and sell other ancillary services from time to
time.
4.15. LAKE ROAD GENERATING COMPANY, L.P.
a) Lake Road Generating Company, L.P.
56 Alexander Parkway
Dayville, CT 06241
Lake Road Generating Company, L.P. is currently under construction,
with commercial operation expected in the summer of 2001. Lake Road
Generating Company, L.P. will be a nominal 792 MW natural gas-fired
combined cycle merchant power facility which anticipates selling
power into the New England Power Pool on a spot basis as well as
under short-to medium-term bilateral contracts.
b) Enterprises owns 100% of PG&E Shareholdings, Inc., which owns 100%
of PG&E Generating Company, LLC, which owns 100% of PG&E Generating
Energy Group, LLC, which owns 100% of both Peach IV Power
Corporation and Black Hawk III Power Corporation. Peach IV Power
Corporation is a 49% general partner and Black Hawk III Power
Corporation is a 49% general partner and 2% limited partner in Lake
Road Generating Company, L.P.
c) The Lake Road Project is being financed through a synthetic lease.
Lake Road Generating Company, L.P., has not been capitalized.
d) Total equity as of December 31, 2000 = $0. Net income for the twelve
months ended December 31, 2000 = $0.
e) PG&E National Energy Group Company provides operations, management,
and maintenance services to Lake Road Generating Company, L.P. PG&E
National Energy Group Company charges a contractual rate for
management services.
Lake Road Generating Company, L.P. has an enabling agreement with
PG&E Energy Trading - Power, L.P. pursuant to which it may make
wholesale sales of electricity and purchase and sell other ancillary
services from time to time.
Lake Road Generating Company, L.P. has an gas enabling agreement
with PG&E Energy Trading - Gas Corporation pursuant to which it may
enter into non firm/interruptible gas purchase and sales
transactions at market pricing, from time to time.
4.16. MANTUA CREEK GENERATING COMPANY, L.P.
42
a) Mantua Creek Generating Company, L.P.
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
Mantua Creek Generating Company, L.P. is currently developing an 800
MW natural gas-fired electric generating merchant power facility in
West Deptford, New Jersey.
b) Enterprises owns 100% of PG&E Shareholdings, Inc., which owns 100%
of PG&E Generating Company, LLC, which owns 100% of PG&E Generating
Energy Group, LLC, which owns 100% each of Plover Power Corporation
and Beech Power Corporation. Plover Power Corporation is a 49%
general partner and 2% limited partner, and Beech Power Corporation
is a 49% general partner, in Mantua Creek Generating Company, L.P.
c) Project is in the development stage. Mantua Creek Generating
Company, L.P., has not been capitalized.
d) Total equity as of December 31, 2000 = $0. Net income for the twelve
months ended December 31, 2000 = $0.
e) N/A
4.17. OKEECHOBEE GENERATING COMPANY, LLC
a) Okeechobee Generating Company, LLC
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
Okeechobee Generating Company, LLC is currently developing a 550 MW
natural gas-fired electric generating merchant power facility in
Okeechobee, Florida
b) Enterprises owns 100% of PG&E Shareholdings, Inc., which owns 100%
of PG&E Generating Company, LLC, which owns 100% of PG&E Generating
Energy Group, LLC, which owns 100% each of Okeechobee Power
Corporation and PG&E Generating Energy Holdings, Inc. PG&E
Generating Energy Holdings, Inc. owns a 1% membership interest and
Okeechobee Power Corporation owns a 99% membership interest in
Okeechobee Generating Company, LLC.
c) Project is in the development stage. Okeechobee Generating Company,
LLC, has not been capitalized.
d) Total equity as of December 31, 2000 = $0. Net income for the twelve
months ended December 31, 2000 = $0.
e) N/A
4.18. USGEN NEW ENGLAND, INC.
a) USGen New England, Inc.
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
USGen New England, Inc. owns and operates 17 generating facilities
comprising of approximately 3,962 megawatts of generation, selling
power in the New England area markets.
b) Enterprises owns 100% of PG&E Shareholdings, Inc., which owns 100%
of PG&E Generating Company, LLC, which owns 100% of PG&E Generating
Energy Group, LLC, which owns 100% of USGen New England, Inc.
c) On September 1, 1998, USGen New England, Inc. completed the
acquisition of a portfolio of electric generating assets and power
supply contracts from the New England Electric System. PG&E
Generating Company, LLC, through PG&E Generating Energy Group, LLC,
made an equity contribution of $1,343,960,000 in USGen New England,
Inc. in order to execute the transaction. PG&E Corporation, through
PG&E Enterprises and PG&E Shareholdings, Inc. made a
43
$425,000,000 equity contribution to PG&E Generating Company, LLC, in
connection with the acquisition. USGen New England, Inc. also
assumed liabilities of approximately $1,350,000,000.
d) Net income for the twelve months ended December 31, 2000 =
$95,037,697.
e) PG&E National Energy Group Company (formerly PG&E Generating
Company) provides management services to USGen New England, Inc.
PG&E National Energy Group Company charges a contractual rate for
management services.
USGen New England, Inc. has an enabling agreement with PG&E Energy
Trading - Power, L.P. pursuant to which it may make wholesale sales
of electricity and purchase and sell other ancillary services from
time to time.
4.19. PG&E DISPERSED GENERATING COMPANY, LLC
a) PG&E Dispersed Generating Company, LLC
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
PG&E Dispersed Generating Company, LLC is currently developing
and/or operating small peaker facilities in Ohio and is acting as an
engineering procurement construction contractor on two small peaker
facilities in California.
b) Enterprises owns 100% of PG&E Shareholdings, Inc., which owns 100%
of PG&E Generating Company, LLC, which owns 100% of PG&E Generating
Energy Group, LLC, which owns 100% each of PG&E Dispersed Power
Corporation and PG&E Generating Energy Holdings, Inc. PG&E
Generating Energy Holdings, Inc. owns a 1% membership interest and
PG&E Dispersed Power Corporation owns a 99% membership interest in
PG&E Dispersed Generating Company, LLC.
c) Project is in the development stage. PG&E Dispersed Generating
Company, LLC, has not been capitalized. In February 2000, PG&E
Dispersed Power Corporation and PG&E Generating Energy Holdings,
Inc. made an initial equity contribution of $22,338,863 and
$225,645, respectively. At various dates in 2000, additional equity
contributions of $86,230,360 and $871,014 were made by PG&E
Dispersed Power Corporation and PG&E Generating Energy Holdings,
Inc., respectively.
d) Total equity as of December 31, 2000 = $97,991,956. Net income for
the twelve months ended December 31, 2000 = $(11,673,927).
e) PG&E National Energy Group Company provides operation, maintenance
and management services to PG&E Dispersed Generating Company, LLC.
PG&E National Energy Group Company charges a contractual rate for
their services.
4.20. LIBERTY GENERATING COMPANY, LLC
a) Liberty Generating Company, LLC
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
Liberty Generating Company, LLC is currently developing a 1,100 MW
natural gas-fired electric generating merchant power facility in
Linden, New Jersey.
b) Enterprises owns 100% of PG&E Shareholdings, Inc., which owns 100%
of PG&E Generating Company, LLC, which owns 100% of PG&E Generating
Energy Group, LLC, which owns 100% each of Liberty Generating
Corporation and PG&E Generating Energy Holdings, Inc. PG&E
Generating Energy Holdings, Inc. owns a 1% membership interest and
Liberty Generating Corporation owns a 99% membership interest in
Liberty Generating Company, LLC.
c) Project is in the development stage. Liberty Generating Company,
LLC, has not been capitalized.
d) Total equity as of December 31, 2000 = $0.
44
Net income for the twelve months ended December 31, 2000 = $0.
e) N/A
4.21. BADGER GENERATING COMPANY, LLC
a) Badger Generating Company, LLC
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
Badger Generating Company, LLC is currently developing a 1,100 MW
natural gas-fired electric generating merchant power facility in
Pleasant Prairie, Wisconsin.
b) Enterprises owns 100% of PG&E Shareholdings, Inc., which owns 100%
of PG&E Generating Company, LLC, which owns 100% of PG&E Generating
Energy Group, LLC, which owns 100% each of Badger Power Corporation
and PG&E Generating Energy Holdings, Inc. PG&E Generating Energy
Holdings, Inc. owns a 1% membership interest and Badger Power
Corporation owns a 99% membership interest in Badger Generating
Company, LLC.
c) Project is in the development stage. Badger Generating Company, LLC,
has not been capitalized.
d) Total equity as of December 31, 2000 = $0. Net income for the twelve
months ended December 31, 2000 = $0.
e) N/A
4.22. MADISON WINDPOWER LLC
a) Madison Windpower LLC
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
Madison Windpower, LLC is currently operating a 12MW wind-powered
merchant power facility in Madison, New York.
b) Enterprises owns 100% of PG&E Shareholdings, Inc., which owns 100%
of PG&E Generating Company, LLC, which owns 100% of PG&E Generating
Energy Group, LLC, which owns 100% each of Madison Wind Power
Corporation and PG&E Generating Energy Holdings, Inc. PG&E
Generating Energy Holdings, Inc. owns a 1% membership interest and
Madison Wind Power Corporation owns a 99% membership interest in
Madison Windpower LLC.
c) Madison Wind LLC has not been capitalized. It is fully funded by
debt.
d) Total equity as of December 31, 2000 = $(285,624). Net income for
the twelve months ended December 31, 2000 = $(285,624).
e) PG&E National Energy Group Company provides operation, maintenance
and management services to Madison Windpower LLC. PG&E National
Energy Group Company charges a contractual rate for their services.
4.23. COVERT GENERATING COMPANY, LLC
a) Covert Generating Company, LLC
7500 Old Georgetown Road, 13th Floor
Bethesda, MD 20814-6161
Covert Generating Company, LLC is currently developing a 1,080
natural gas-fired electric generating merchant power facility in
Covert Township, Michigan.
b) Enterprises owns 100% of PG&E Shareholdings, Inc., which owns 100%
of PG&E Generating Company, LLC, which owns 100% of PG&E Generating
Energy Group, LLC, which owns 100% each of Covert Power Corporation
and PG&E Generating Energy Holdings, Inc. PG&E Generating Energy
Holdings, Inc. owns a 1% membership interest and Covert Power
Corporation owns a 99% membership interest in
45
Covert Generating Company, LLC.
c) Project is in the development stage. Covert Generating Company, LLC,
has not been capitalized.
d) Total equity as of December 31, 2000 = $0. Net income for the twelve
months ended December 31, 2000 = $0.
e) N/A
46
EXHIBIT A
A consolidating statement of income and surplus of the Claimant and its
subsidiary companies for the last calendar year, together with a
consolidating balance sheet of Claimant and its subsidiary companies as of
the close of such calendar year.
Unaudited consolidating statements of income of the Claimant's subsidiary
companies (i.e., PG&E Corporation and its subsidiaries) for 2000, together
with unaudited consolidating balance sheets of Claimant's subsidiary
companies as of the close of such periods, are attached as Exhibit A.
PG&E CORPORATION
CONSOLIDATING INCOME STATEMENT
FOR THE TWELVE MONTHS ENDED DECEMBER 31, 2000
(in millions)
(unaudited)
Eliminations
Total and Total PG&E Total
Consolidated Reclassifications Unconsolidated Corporation Subsidiaries
----------------------------------------------------------------------------
Operating revenues
Utility $ 9,637 $ - $ 9,637 $ - $ 9,637
Energy commodities and services 16,595 (516) 17,111 111 17,000
--------------------------------------------------------------------------
Total operating revenues 26,232 (516) 26,748 111 26,637
--------------------------------------------------------------------------
Operating Expenses
Cost of energy for utility 8,166 - 8,166 - 8,166
Deferred electric procurement cost (6,465) - (6,465) - (6,465)
Cost of energy commodities and services 15,220 (264) 15,484 - 15,484
Operating and maintenance 3,520 (267) 3,787 111 3,676
Depreciation, amortization, and
decommissioning 3,659 5 3,654 - 3,654
Loss on assets held for sale - - - - -
Provision for loss on generation-related
regulatory assets and undercollected
purchased power costs 6,939 - 6,939 - 6,939
--------------------------------------------------------------------------
Total operating expenses 31,039 (526) 31,565 111 31,565
--------------------------------------------------------------------------
Operating Income (Loss) (4,807) 10 (4,817) - (4,817)
Interest Income 266 1 265 - 265
Interest Expense (788) 38 (826) (27) (799)
Equity in earnings of subsidiaries - 3,316 (3,316) (3,316) -
Other income (expense) (23) (42) 19 15 4
--------------------------------------------------------------------------
Income (Loss) Before Income Taxes (5,352) 3,323 (8,675) (3,328) (5,347)
Income tax provision (benefit) (2,028) 3 (2,031) (4) (2,027)
--------------------------------------------------------------------------
Income (Loss) from continuing operations (3,324) 3,320 (6,644) (3,324) (3,320)
Discontinued operations
Loss on disposal of PG&E Energy Services
(net of applicable income taxes of
$36 million) (40) 40 (40) (40) (40)
--------------------------------------------------------------------------
Net Income (Loss) $(3,364) $ 3,360 $ (6,724) $ (3,364) $(3,360)
==========================================================================
Pacific Gas PG&E National PG&E
& Electric Energy Group, Corporation PG&E PG&E PG&E Ventures,
Company Inc. Support Strategic Elm Power Ventures LLC
(Consolidated) (Consolidated) Services, Inc. Capital Inc. Corporation ePro, LLC (Consolidated)
-------------- -------------- -------------- ------------ ----------- --------- --------------
Operating revenues
Utility $ 9,637 $ - $ - $ - $ - $ - $ -
Energy commodities and services - 16,995 5 - - - -
-------------------------------------------------------------------------------------------
Total operating revenues 9,937 16,995 5 $ - - - -
-------------------------------------------------------------------------------------------
Operating Expenses
Cost of energy for utility 8,166 - - - - - -
Deferred electric procurement cost (6,465) - - - - - -
Cost of energy commodities and
services - 15,484 - - - - -
Operating and maintenance 2,687 977 5 - - - 7
Depreciation, amortization, and
decommissioning 3,511 143 - - - - -
Loss on assets held for sale - - - - - - -
Provision for loss on generation-related
regulatory assets and undercollected
purchased power costs 6,939 - - - - - -
-------------------------------------------------------------------------------------------
Total operating expenses 14,838 16,604 5 - - - 7
-------------------------------------------------------------------------------------------
Operating Income (Loss) (5,201) 391 - - - - (7)
Interest Income 186 79 - - - - -
Interest Expense (644) (155)
Equity in earnings of subsidiaries
Other income (expense) (3) 7 - - - - -
-------------------------------------------------------------------------------------------
Income (Loss) Before Income Taxes (5,662) 322 - - - - (7)
Income tax provision (benefit) (2,154) 130 - - - - (3)
-------------------------------------------------------------------------------------------
Income (Loss) from continuing
operations (3,508) 192 - - - - (4)
Discontinued operations
Loss on disposal of PG&E Energy
Services (net of applicable
income taxes of $36 million) - (40) - - - - -
------------------------------------------------------------------------------------------
Net Income (Loss) $(3,508) $ 152 $ - $ - $ - $ - $ (4)
==========================================================================================
EXHIBIT A
PG&E CORPORATION
CONSOLIDATING INCOME STATEMENT
FOR THE TWELVE MONTHS ENDED DECEMBER 31, 2000
(in milions)
(unaudited)
Pacific Gas &
Electric Pacific Gas &
Company Eliminations and Total Electric Total
(Consolidated) Reclassifications Unconsolidated Company Subsidiaries
------------------------------------------------------------------------------
Operating revenues
Utility $ 9,637 $ (1) $ 9,638 $ 9,637 $ 1
Energy commodities and services - - - - -
------------------------------------------------------------------------------
Total operating revenues 9,637 (1) 9,638 9,637 1
------------------------------------------------------------------------------
Operating Expenses
Cost of energy for utility 8,166 (1) 8,167 8,167 -
Deferred electric procurement cost (6,465) - (6,465) (6,465) -
Cost of energy commodities and services - - -
Operating and maintenance 2,687 - 2,687 2,681 6
Depreciation, amortization, and decommissioning 3,511 - 3,511 3,510 1
Loss on assets held for sale - - - -
Provision for loss on generation-related regulatory
assets and undercollected purchased power costs 6,939 - 6,939 6,939 -
------------------------------------------------------------------------------
Total operating expenses 14,838 (1) 14,839 14,832 7
------------------------------------------------------------------------------
Operating Income (Loss) (5,201) - (5,201) (5,195) (6)
Interest Income 186 (152) 338 180 158
Interest Expense (644) 152 (796) (628) (168)
Equity in earnings of subsidiaries - (8) 8 8 -
Other income (expense) (3) (3) (27) 24
------------------------------------------------------------------------------
Income (Loss) Before Income Taxes (5,662) (8) (5,654) (5,662) 8
Income tax provision (benefit) (2,154) - (2,154) (2,154) -
------------------------------------------------------------------------------
Net Income (Loss) $ (3,508) $ (8) $ (3,500) $ (3,508) $ 8
==============================================================================
Alberta and Natural Gas Standard Pacific Pacific Gas
Southern Gas Corporation Gas Line Pacific Energy Properties
Co. Ltd. of California Incorporated Fuels Company Company
--------------------------------------------------------------------------------
Operating revenues
Utility $ - $ - $ 1 $ - $ -
Energy commodities and services - - - - -
--------------------------------------------------------------------------------
Total operating revenue - - 1 - -
--------------------------------------------------------------------------------
Operating Expenses
Cost of energy for utility - - - - -
Deferred electric procurement cost - - - - -
Cost of energy commodities and services - - - - -
Operating and maintenance - - 1 - -
Depreciation, amortization, and decommissioning - - 1 - -
Loss on assets held for sale - - - - -
Provision for loss on generation-related regulatory - - - - -
assets and undercollected purchased power costs - - - - -
--------------------------------------------------------------------------------
Total operating expenses - - 2 - -
--------------------------------------------------------------------------------
Operating Income (Loss) - - (1) - -
Interest Income 1
Interest Expense - - - - (1)
Equity in earnings of subsidiaries - - - - -
Other income (expense) - - - - -
--------------------------------------------------------------------------------
Income (Loss) Before Income Taxes 1 - (1) - (1)
Income tax provision (benefit) 1 - - - (1)
--------------------------------------------------------------------------------
Net income (loss) $ - $ - $ (1) $ - $ -
================================================================================
PG&E National Energy Group, Inc.
Consolidated Income Statement
For the Twelve Months Ended December 31, 2000
(in millions)
(unaudited)
Pacific
Conservation Eureka PG&E PG&E
Calaska Energy Services Energy PG&E Funding Holdings
Company Company Company Capital 1 LLC LLC
-----------------------------------------------------------------------------
Operating revenues
Utility $ - $ - $ - $ - $ - $ -
Energy commodities and services - - - - - -
-----------------------------------------------------------------------------
Total operating revenues - - - - - -
-----------------------------------------------------------------------------
Operating Expenses
Cost of energy for utility - - - - -
Deferred electric procurement cost - - - - -
Cost of energy commodities and services - - - - -
Operating and maintenance - - - - -
Depreciation, amortization, and decommissioning - - - 5 -
Loss on assets held for sale - - - - -
Provision for loss on generation-related regulatory - - - - -
assets and undercollected purchased power costs - - - - -
-----------------------------------------------------------------------------
Total operating expenses - - - - 5 -
-----------------------------------------------------------------------------
Operating Income (Loss) - - - - (5) -
Interest Income - 1 - 156 -
Interest Expense - - - (24) (143) -
Equity in earnings of subsidiaries - - - - -
Other income (expense) - - - 24 - -
-----------------------------------------------------------------------------
Income (Loss) Before Income Taxes - 1 - - 8 -
Income tax provision (benefit) - - - - - -
-----------------------------------------------------------------------------
Net Income (Loss) $ - $ 1 $ - $ - $ 8 $ -
=============================================================================
PG&E National Energy Group, Inc.
Consolidating Income Statement
For the Twelve Months Ended December 31, 2000
(in millions)
(unaudited)
PG&E PG&E Gas PG&E Gas
Enterprises Transmission Transmission-Texas
----------- ------------ ------------------
Operating revenues
Generation, transportation and trading $15,044 $237 $1,911
Equity in earnings of affiliates 64 - 1
------- ---- ------
Total operating revenues 15,108 237 1,912
Operating expenses
Cost of commodity sales & fuel 14,236 - 1,688
Operations, maintenance, and management 530 47 143
Administrative and general 17 3 -
Corporate A&G allocation 45 - -
Depreciation and amortization 102 41 -
Impairments and write-offs
Other operating expenses (11) 11 -
------- ---- ------
Total operating expenses 14,919 102 1,831
------- ---- ------
Operating Income 189 135 81
Other income (expenses)
Interest income 74 1 -
Interest expense (72) (41) (49)
Other income (5) 1 (3)
Preferred stock accretion - - -
Minority interest expense (2) - -
------- ---- ------
Income (loss) from continuing operations
before income taxes 184 96 29
Income taxes
Income tax expense (benefit) 99 38 (4)
------- ---- ------
Net Income (loss) before cumulative effect
of a change in accounting principle 85 58 33
Discontinued operations (40) - -
------- ---- ------
Net Income $ 45 $ 58 $ 33
======= ==== ======
PG&E National Adjustments &
Energy Group, Inc Eliminations NEG, Inc.
----------------- ------------- ----------
Operating revenues
Generation, transportation and trading $16,930 $(262) $ -
Equity in earnings of affiliates 65 (110) 110
------- ----- ----
Total operating revenues 16,995 (372) 110
Operating expenses
Cost of commodity sales & fuel 15,667 (257) -
Operations, maintenance, and management 715 (5) -
Administrative and general 22 (1) 3
Corporate A&G allocation 46 1 -
Depreciation and amortization 143 - -
Impairments and write-offs
Other operating expenses 10 4 6
------- ----- ----
Total operating expenses 16,603 (258) 9
------- ----- ----
Operating Income 392 (114) 101
Other income (expenses)
Interest income 80 5 -
Interest expense (156) 6 -
Other income 7 14 -
Preferred stock accretion - - -
Minority interest expense (2) - -
------- ----- ----
Income (loss) from continuing operations
before income taxes 321 (89) 101
Income taxes
Income tax expense (benefit) 129 - (4)
------- ----- ----
Net Income (loss) before cumulative effect
of a change in accounting principle 192 (89) 105
Discontinued operations (40) - -
------- ----- ----
Net Income $ 152 $ (89) $105
======= ===== ====
7
PG&E National Energy Group, Inc.
Consolidating Income Statement
For the Twelve Months Ended December 31, 2000
(in millions)
(unaudited)
PG&E National
Energy Group
Holdings Corp. PG&E Overseas, Inc. Quantum Ventures
-------------- ------------------- ----------------
Operating revenues
Generation, transportation and trading $15,070 $ - $ -
Equity in earnings of affiliates 64 - -
------- ---- ----
Total operating revenues 15,134 - -
Operating expenses
Cost of commodity sales & fuel 14,261 - -
Operations, maintenance, and management 530 - -
Administrative and general 17 - -
Corporate A&G allocation 44 - -
Depreciation and amortization 102 - -
Impairments and write-offs
Other operating expenses (10) - -
------- ---- ----
Total operating expenses 14,944 - -
------- ---- ----
Operating Income 190 - -
Other income (expenses)
Interest income 84 - -
Interest expense (71) - -
Other income (5) - -
Preferred stock accretion - - -
Minority interest expense (2) - -
------- ---- ----
Income (loss) from continuing operations
before income taxes 196 - -
Income taxes
Income tax expense (benefit) 103 1 -
------- ---- ----
Net Income (loss) before cumulative effect
of a change in accounting principle 93 (1) -
Discontinued operations - - (40)
------- ---- ----
Net Income $ 93 $ (1) $(40)
======= ==== ====
8
Adjustments &
PG&E Enterprises Eliminations PG&E Enterprises Inc.
---------------- ------------- ---------------------
Operating revenues
Generation, transportation and trading $15,044 $ (26) $ -
Equity in earnings of affiliates 64 (59) 59
------- ----- ----
Total operating revenues 15,108 (85) 59
Operating expenses
Cost of commodity sales & fuel 14,236 (25) -
Operations, maintenance, and management 530 - -
Administrative and general 17 - -
Corporate A&G allocation 45 - 1
Depreciation and amortization 102 - -
Impairments and write-offs
Other operating expenses (11) (1) -
------- ----- ----
Total operating expenses 14,919 (26) 1
------- ----- ----
Operating Income 189 (59) 58
Other income (expenses)
Interest income 74 1 (11)
Interest expense (72) (1) -
Other income (5) - -
Preferred stock accretion - - -
Minority interest expense (2) - -
------- ----- ----
Income (loss) from continuing operations
before income taxes 184 (59) 47
Income taxes
Income tax expense (benefit) 99 - (5)
------- ----- ----
Net Income (loss) before cumulative effect
of a change in accounting principle 85 (59) 52
Discontinued operations (40) - -
------- ----- ----
Net Income $ 45 $ (59) $ 52
======= ===== ====
9
PG&E National Energy Group, Inc.
Consolidating Income Statement
For the Twelve Months Ended December 31, 2000
(in millions)
(unaudited)
PG&E Adjustments & PG&E Overseas PG&E Energy
Overseas Inc. Eliminations Inc. Australia
-----------------------------------------------------------------------------
Operating revenues
Equity in earnings of affiliates $ - $ 1 $ (1) $ -
-----------------------------------------------------------------------------
Total operating revenues - 1 (1) -
Operating expenses
Impairments and write-offs - - - -
Other operating expenses - - - -
-----------------------------------------------------------------------------
Total operating expenses - - - -
-----------------------------------------------------------------------------
Operating Income - 1 (1) -
Other income (expenses) - - - -
-----------------------------------------------------------------------------
Income (loss) from continuing operations before
income taxes - 1 (1) -
Income taxes
Income tax expense (benefit) 1 - - 1
-----------------------------------------------------------------------------
Net income (loss) before cumulative effect of a
change in accounting principle (1) 1 (1) (1)
-----------------------------------------------------------------------------
Net Income $ (1) $ 1 $ (1) $ (1)
=============================================================================
10
PG&E National Energy Group, Inc.
Consolidating Income Statement
For the Twelve Months Ended December 2000
(in millions)
(unaudited)
Quantum PG&E Energy
Ventures Adjustments & Quantum Services Barakat &
Consolidated Eliminations Ventures Ventures, Inc. Chamberlin, Inc.
---------------------------------------------------------------------------
Operating revenues
Generation, transportation and trading - $ (3) $ - $ 3 $ -
Equity in earnings of affiliates - 80 (80) - -
---------------------------------------------------------------------------
Total operating revenues - 77 (80) 3 -
Operating expenses
Cost of commodity sales & fuel - (24) - 24 -
Operations, maintenance, and management - (31) - 31 -
Administrative and general - (1) - 1 -
Depreciation and amortization - (7) - 7 -
Impairments and write-offs - - - - -
Other operating expenses - (8) - 8 -
-----------------------------------------------------------------------------
Total operating expenses - (71) - 71 -
-----------------------------------------------------------------------------
Operating Income - 148 (80) (68) -
Other income (expenses)
Interest expense - - - - -
Other income - 47 (5) (42) -
-----------------------------------------------------------------------------
Income (loss) from continuing operations before
income taxes - 195 (85) (110) -
Income taxes
Income tax expense (benefit) - 51 - (50) (1)
-----------------------------------------------------------------------------
Net Income (loss) before cumulative effect of a
change in accounting principle - 144 (85) (60) 1
Discontinued operations (40) (40) - - -
-----------------------------------------------------------------------------
Net Income $ (40) $ 104 $ (85) $ (60) $ 1
=============================================================================
PG&E National Energy Group, Inc.
Consolidating Income Statement
For the Twelve Months Ended December 31, 2000
(in millions)
(unaudited)
PG&E National PG&E Energy
Energy Group Adjustments & PG&E NEG PG&E Generating Trading
Holdings Corp. Eliminations Holdings Company LLC Consolidated PG&E Properties
-----------------------------------------------------------------------------------------
Operating revenues
Generation, transportation and trading $ 15,069 $ (987) $ - $ 1,125 $ 14,925 $ 6
Equity in earnings of affiliates 64,168 (99) 99 65 (1) -
-----------------------------------------------------------------------------------------
Total operating revenues 15,133 (1,086) 99 1,190 14,924 6
Operating expenses
Cost of commodity sales & fuel 14,261 (967) - 519 14,709 -
Operations, maintenance, and management 530 (8) - 405 132 1
Administrative and general 16 - - 11 5 -
Corporate A&G allocation 44 - 2 42 - -
Depreciation and amortization 102 - - 91 11 -
Impairments and write-offs
Other operating expenses (10) - 2 (16) 4 -
-----------------------------------------------------------------------------------------
Total operating (expenses) 14,943 (975) 4 1,052 14,861 1
-----------------------------------------------------------------------------------------
Operating Income 190 (111) 95 138 63 5
Other income (expenses)
Interest income 84 6 5 66 7 -
Interest expense (72) (6) - (61) (4) (1)
Other income (5) - - - (5) -
Preferred stock accretion - - - - - -
Minority interest expense (2) - - (2) - -
-----------------------------------------------------------------------------------------
Income (loss) from continuing operations
before income taxes 195 (111) 100 141 61 4
Income taxes
Income tax expense (benefit) 102 (4) - 57 47 2
-----------------------------------------------------------------------------------------
Net Income (loss) before cumulative effect
of a change in accounting principle 93 (107) 100 84 14 2
-----------------------------------------------------------------------------------------
Net Income $ 93 $ (107) $ 100 $ 84 $ 14 $ 2
=========================================================================================
PG&E National Energy Group, Inc.
Consolidating Income Statement
For the Twelve Months Ended December 31, 2000
(in millions)
(unaudited)
PG&E PG&E Energy PG&E Energy
International PG&E Power Trading Gas Trading-Power
Inc. Holdings Corporation Holdings Corp.
--------------------------------------------------------------------
Operating revenues
Generation, transportation, and trading $ - $ 9,591 $ 5,454 $ -
Equity in earnings of affiliates - - (1) (24)
--------------------------------------------------------------------
Total operating revenues - 9,591 5,453 (24)
Operating expenses
Cost of commodity sales & fuel - 9,461 5,368 -
Operations, maintenance, and management - 45 87 -
Administrative and general - 3 3 -
Depreciation and amortization - 1 9 -
Impairments and write-offs - - - -
Other operating expenses 4 - 4 -
--------------------------------------------------------------------
Total operating expenses 4 9,510 5,471 -
--------------------------------------------------------------------
Operating Income (4) 81 (18) (24)
Other income (expenses)
Interest income 11 3 3 1
Interest expense - (2) (3) 1
Other income 14 - (5) -
--------------------------------------------------------------------
Income (loss) from continuing operations
before income taxes 21 82 (23) (22)
Income taxes
Income tax expense (benefit) - 69 14 (35)
--------------------------------------------------------------------
Net income (loss) before cumulative
effect of a change in accounting principle 21 13 (37) 13
--------------------------------------------------------------------
Net Income $ 21 $ 13 $ (37) $ 13
====================================================================
PG&E Energy Adjustments
Trading and
Consolidated Eliminations
-----------------------------
Operating revenues
Generation, transportation, and trading $ 14,925 $ (120)
Equity in earnings of affiliates (1) 24
-----------------------------
Total operating revenues 14,924 (96)
Operating expenses
Cost of commodity sales & fuel 14,709 (120)
Operations, maintenance, and management 132 -
Administrative and general 5 (1)
Depreciation and amortization 10 -
Impairments and write-offs - -
Other operating expenses 4 (4)
-----------------------------
Total operating expenses 14,860 (125)
-----------------------------
Operating Income 64 29
Other income (expenses)
Interest income 7 (11)
Interest expense (4) -
Other income (5) (14)
-----------------------------
Income (loss) from continuing operations
before income taxes 62 4
Income taxes
income tax expense (benefit) 48 -
-----------------------------
Net income (loss) before cumulative
effect of a change in accounting principle 14 4
-----------------------------
Net Income $ 14 $ 4
=============================
PG&E National Energy Group, Inc.
Consolidating Income Statement
For the Twelve Months Ended December 31, 2000
(in millions)
(unaudited)
PG&E Overseas Rocksavage PG&E International
Holdings I, Ltd. Services I, Inc. Development Holdings
---------------- ---------------- ---------------------
Operating revenues
Equity in earnings of affiliates $ - $ - $ -
--- --- ---
Total operating revenues - - -
Operating expenses
Impairments and write-offs - - -
Other operating expenses 4 - -
--- --- ---
Total operating expenses 4 - -
--- --- ---
Operating Income (4) - -
Other income (expenses)
Interest income 4 - -
Other income 1 - -
--- --- ---
Income (loss) from continuing operations
before income taxes 1 - -
Income taxes
Income tax expense (benefit) - (8) -
--- --- ---
Net income (loss) before cumulative
effect of a change in accounting principle 1 8 -
--- --- ---
Net Income $ 1 $ 8 $ -
=== === ===
PG&E Adjustments & PG&E
International, Inc. Eliminations International
------------------- ------------- -------------
Operating revenues
Equity in earnings of affiliates $ - (9) 9
--- --- ---
Total operating revenues - (9) 9
Operating expenses
Impairments and write-offs - - -
Other operating expenses 4 - -
--- --- ---
Total operating expenses 4 - -
--- --- ---
Operating Income
Other income (expenses) (4) (9) 9
Interest income 11 - 7
Other income 14 - 13
--- --- ---
Income (loss) from continuing operations
before income taxes 21 (9) 29
Income taxes
Income tax expense (benefit) - 8 -
--- --- ---
Net income (loss) before cumulative (17) 29
effect of a change in accounting principle 21
--- --- ---
Net Income 21 (17) 29
=== === ===
PG&E National Energy Group, Inc.
Consolidating Income Statement
For the Twelve Months Ended December 31, 2000
(in millions)
(unaudited)
Consol. PG&E PG&E Corporation
Overseas Adjustments & Australian PG&E Overseas
Holdings I, Ltd. Eliminations Holdings Pty Holdings I, Ltd.
---------------- ------------- ---------------- ----------------
Operating revenues
Equity in earnings of affiliates $ - $4 $ - $(4)
--- -- --- ---
Total operating revenues - 4 - (4)
Operating expenses
Impairments and write-offs - - - -
Other operating expenses 4 - 4 -
--- -- --- ---
Total operating expenses 4 - 4 -
--- -- --- ---
Operating Income (4) 4 (4) (4)
Other income (expenses)
Interest income 4 - - 4
Other income 1 - - 1
--- -- --- ---
Income (loss) from continuing operations before 1 4 (4) 1
income taxes
Income taxes
Net income (loss) before cumulative effect of a
change in accounting principle 1 4 (4) 1
--- -- --- ---
Net Income $ 1 $4 $(4) $ 1
=== === === ===
PG&E National Energy Group, Inc.
Consolidating Income Statement
For the Twelve Months Ended December 31, 2000
(in millions)
(unaudited)
Conaway
Oak Creek Conservancy
The Conway Associates Joint Group Joint Alhambra Pacific
Gilia Enterprises Ranch Company BPS I, Inc. Venture Venture Joint Venture
----------------- ------------- ----------- ---------------- ----------- ----------------
Operating revenues
Generation, transportation,
and trading $ - $ - $ - $ - $ - $ -
Equity in earnings of
affiliates - 2 - - 6 -
--- --- --- --- --- ---
Total operating revenues - 2 - - 6 -
Operating expenses
Operations, maintenance,
and management - - - - 1 -
Depreciation and
amortization - - - - - -
Impairments and write-offs - - - - - -
Other operating expenses - - - - - -
--- --- --- --- --- ---
Total operating expenses - - - - 1 -
--- --- --- --- --- ---
Operating Income - 2 - - 5 -
Other income (expenses)
Interest expense - - - - - -
--- --- --- --- --- ---
Income (loss) from
continuing operations
before income taxes - 2 - - 5 -
Income taxes
Income tax expense
(benefit) 1 - - - -
--- --- --- --- --- ---
Net income (loss) before
cumulative effect of
a change in accounting
principle - 1 - - 5 -
--- --- --- --- --- ---
Net Income $ - $ 1 $ - $ - $ 5 $ -
=== === === === === ===
PG&E Properties PG&E
Consolidated Eliminations Properties
--------------- ------------ ----------
Operating revenues
Generation, transportation,
and trading $ 6 $ - $ -
Equity in earnings of
affiliates - (6) 4
--- ---- ---
Total operating revenues 6 (6) 4
Operating expenses
Operations, maintenance,
and management 1 (1) -
Depreciation and
amortization - - -
Impairments and write-offs - - -
Other operating expenses - - -
--- ---- ---
Total operating expenses 1 - -
--- ---- ---
Operating Income 5 (7) 4
Other income (expenses)
Interest expense 1 1 -
--- ---- ---
Income (loss) from
continuing operations
before income taxes 4 (6) 3
Income taxes
Income tax expense
(benefit) 2 - 1
--- ---- ---
Net income (loss) before
cumulative effect of
a change in accounting
principle 2 (6) 2
--- ---- ---
Net Income $ 2 $ (6) $ 2
=== ==== ===
PG&E Corporation
Consolidating Balance Sheet
December 31, 2000
(in millions)
(Unaudited)
Total Eliminations and Total PG&E
Consolidated Reclassifications Unconsolidated Corporation
------------------------------------------------------------------------------
ASSETS
Current Assets
Cash and cash equivalents $ 899 $ - $ 899 $ -
Short-term investments 1,634 - 1,634 351
Accounts receivable -
Customers 2,131 (1,233) 3,364 -
Related parties - (301) 301 295
Energy marketing 2,211 2,211 -
Regulatory balancing accounts 222 - 222
Other - (1,199) 1,199 193
Price Risk Management 2,039 - 2,039 -
Inventories 392 - 392 -
Income taxes receivable 1,241 - 1,241 121
Prepaid Expense and Other 406 179 227 -
Other current assets - (171) 171
--------------------------------------------------------------------------
Total current assets 11,175 (514) 11,689 960
Property, Plant, and Equipment
Utility 23,872 - 23,872 -
Non-Utility - - -
Electric Generation 2,008 (1,604) 3,612 -
Gas Transmission 1,542 1,532 10 -
Construction work in progress 900 1 899 -
Other 147 33 114 15
--------------------------------------------------------------------------
Total property, plant, and
equipment (at original cost) 28,469 (38) 28,507 15
Accumulated depreciation and
decommissioning (11,878) - (11,878) (6)
--------------------------------------------------------------------------
Net property, plant, and equipment 16,591 (38) 16,629 9
Other Noncurrent Assets
Investments in subsidiaries - (3,439) 3,439 3,439
Regulatory assets 1,773 35 1,738 -
Nuclear decommissioning funds 1,328 - 1,328 -
Price risk management 2,026 - 2,026 -
Other 2,398 (826) 3,224 65
--------------------------------------------------------------------------
Total noncurrent assets 7,525 (791) 8,316 3,504
--------------------------------------------------------------------------
TOTAL ASSETS $ 35,291 $(1,393) $ 36,684 $4,473
==========================================================================
Pacific Gas & PG&E National PG&E
Electric Energy Group, Corporaton
Total Company Inc Support PG&E Strategic
Subsidiaries (Consolidated) (Consolidated) Services, Inc Capital, Inc.
---------------------------------------------------------------------------------------------
ASSETS
Current Assets
Cash and cash equivalents $ 899 $ 111 $ 788 $ - $ -
Short-term investments 1,283 1,283
Accounts receivable
Customers 3,364 993 2,371 - -
Related parties 6 6
Energy marketing - - - - -
Regulatory balancing accounts 222 222 - - -
Other 1,006 718 276 12 -
Price Risk Management 2,039 - 2,039 - -
Inventories 392 280 112 - -
Income taxes receivable 1,120 1,120 - - -
Prepaid Expense and Other 227 - 182 - -
Other current assets 171 45 171 - -
-----------------------------------------------------------------------------------------
Total current assets 10,729 4,778 5,939 12 -
Property, Plant, and Equipment
Utility 23,872 23,872 - - -
Non-Utility
Electric Generation 3,612 - 3,612 - -
Gas Transmission 10 - 10 - -
Construction work in progress 899 249 650 - -
Other 99 - 99 - -
-----------------------------------------------------------------------------------------
Total property, plant, and
equipment (at original cost) 28,492 24,121 4,371 - -
Accumulated depreciation and
decommissioning (11,872) (11,120) (752) - -
-----------------------------------------------------------------------------------------
Net property, plant, and equipment 16,620 13,001 3,619 - -
Other Noncurrent Assets
Investments in subsidiaries - - - - -
Regulatory assets 1,738 1,716 22 - -
Nuclear decommissioning funds 1,328 1,328 - - -
Price risk management 2,026 - 2,026 - -
Other 3,159 1,165 1,350 - -
----------------------------------------------------------------------------------------
Total noncurrent assets 8,251 4,209 3,398 - -
----------------------------------------------------------------------------------------
TOTAL ASSETS $ 35,650 $ 21,988 $12,956 $ 12 $ -
========================================================================================
PG&E
Elm Power PG&E Ventures Ventures, LLC
Corporation ePro, LLC (Consolidated)
--------------------------------------------------
ASSETS
Current Assets
Cash and cash equivalents $ - $ - $ -
Short-term investments
Accounts receivable
Customers - - -
Related parties - - -
Energy marketing - - -
Regulatory balancing accounts - - -
Other 50 - -
Price Risk Management - - -
Inventories - - -
Income taxes receivable - - -
Prepaid Expense and Other - - -
Other current assets - - -
--------------------------------------------------
Total current assets 50 - -
Property, Plant, and Equipment
Utility - - -
Non-Utility
Electric Generation - - -
Gas Transmission - - -
Construction work in progress - - -
Other - - -
--------------------------------------------------
Total property, plant, and
equipment (at original cost) - - -
Accumulated depreciation and
decommissioning - - -
--------------------------------------------------
Net property, plant, and equipment - - -
Other Noncurrent Assets
Investments in subsidiaries - - -
Regulatory assets - - -
Nuclear decommissioning funds - - -
Price risk management - - -
Other 640 4 -
--------------------------------------------------
Total noncurrent assets 640 4 -
--------------------------------------------------
TOTAL ASSETS $ 690 $ 4 $ -
==================================================
PG&E Corporation
Consolidating Balance Sheet
December 31, 2000
(in millions)
(Unaudited)
Total Eliminations and Total
Consolidated Reclassifications Unconsolidated
-------------------------------------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
Current Liabilities
Short-term borrowings $ 4,530 $ 1 $ 4,529
Long-term debt classified as current 2,391 - 2,391
Current portion of rate reduction bonds 290 - 290
Accounts Payable
Trade creditors 3,760 (2,308) 6,068
Energy marketing 2,096 2,096 -
Regulatory balancing accounts 196 - 196
Other 459 (601) 1,060
Accrued taxes - (27) 27
Deferred taxes - - -
Price risk management 1,999 - 1,999
Other 1,563 (457) 2,020
--------------------------------------------------
Total current liabilities 17,284 (1,296) 18,580
--------------------------------------------------
Noncurrent liabilities
Long-term debt 4,736 4 4,732
Rate reduction bonds 1,740 - 1,740
Deferred income taxes 1,656 691 965
Deferred tax credits 192 - 192
Price risk management 1,867 - 1,867
Other 3,864 20 3,844
--------------------------------------------------
Total noncurrent liabilities 14,055 715 13,340
--------------------------------------------------
Total Liabilities 31,339 (581) 31,920
--------------------------------------------------
Preferred Stock of Subsidiaries 480 (8) 488
Utility Obligated Mandatorily Redeemable Preferred Securities
of Trust Holding Solely Utility Subordinated Debentures 300 - 300
Common Stockholders' Equity -
Common stock,
5,971 (6,415) 12,386
Common stock held by subsidiary, at cost, (690) 475 (1,165)
Reinvested earnings (accumulated deficit) (2,105) 1,873 (3,978)
Accumulated other comprehensive income (loss) (4) (4) -
--------------------------------------------------
Total common stockholders' equity 3,172 (4,071) 7,243
--------------------------------------------------
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $35,291 $(4,652) $39,163
==================================================
Pacific Gas &
Electric
PG&E Total Company
Corporation Subsidiaries (Consolidated)
-------------------------------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
Current Liabilities
Short-term borrowings $ 931 $ 3,598 $ 3,079
Long-term debt classified as current - 2,391 2,374
Current portion of rate reduction bonds - 290 290
Accounts Payable
Trade creditors 72 5,996 3,826
Energy marketing - - -
Regulatory balancing accounts - 196 196
Other - 1,060 363
Accrued taxes 108 (81) -
Deferred taxes - 172 172
Price risk management - 1,999 -
Other 209 1,811 670
-------------------------------------------
Total current liabilities 1,320 17,432 10,970
-------------------------------------------
Noncurrent liabilities
Long-term debt - 4,732 3,342
Rate reduction bonds - 1,740 1,740
Deferred income taxes 9 956 929
Deferred tax credits - 192 192
Price risk management - 1,867 -
Other 10 3,834 2,968
-------------------------------------------
Total noncurrent liabilities 19 13,321 9,171
-------------------------------------------
Total Liabilities 1,339 30,753 20,141
-------------------------------------------
Preferred Stock of Subsidiaries - 488 431
Utility Obligated Mandatorily Redeemable Preferred Securities
of Trust Holding Solely Utility Subordinated Debentures - 300 300
Common Stockholders' Equity
Common stock 5,971 6,415 3,570
Common stock held by subsidiary, at cost, (690) (475) (475)
Reinvested earnings (accumulated deficit) (2,147) (1,831) (1,979)
Accumulated other comprehensive income (loss) - - -
-------------------------------------------
Total common stockholders' equity 3,134 4,109 1,116
-------------------------------------------
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 4,473 $34,862 $21,988
===========================================
PG&E National PG&E Corporation
Energy Group, Inc Support PG&E Strategic
(Consolidated) Services, Inc Capital, Inc.
------------------------------------------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
Current Liabilities
Short-term borrowings $ 519 $ - $ -
Long-term debt classified as current 17 - -
Current portion of rate reduction bonds
Accounts Payable
Trade creditors 2,170 - -
Energy marketing - - -
Regulatory balancing accounts - - -
Other 681 12 -
Accrued taxes (78) - -
Deferred taxes - - -
Price risk management 1,999 - -
Other 1,138 - -
------------------------------------------------------
Total current liabilities 6,446 12 -
------------------------------------------------------
Noncurrent liabilities
Long-term debt 1,390 - -
Rate reduction bonds - - -
Deferred income taxes 27 - -
Deferred tax credits - - -
Price risk management 1,867 - -
Other 866 - -
------------------------------------------------------
Total noncurrent liabilities 4,150 - -
------------------------------------------------------
Total Liabilities 10,596 12 -
------------------------------------------------------
Preferred Stock of Subsidiaries 57 - -
Utility Obligated Mandatorily Redeemable Preferred Securities
of Trust Holding Solely Utility Subordinated Debentures - - -
Common Stockholders' Equity
Common stock 2,151 - -
Common stock held by subsidiary, at cost - - -
Reinvested earnings (accumulated deficit) 152 - -
Accumulated other comprehensive income (loss) - - -
------------------------------------------------------
Total common stockholders' equity 2,303 - -
------------------------------------------------------
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $12,899 $12 $ -
======================================================
PG&E
Elm Power PG&E Ventures Ventures, LLC
Corporation ePro, LLC (Consolidated)
------------------------------------------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
Current Liabilities - - -
Short-term borrowings - - -
Long-term debt classified as current - - -
Current portion of rate reduction bonds - - -
Accounts Payable - - -
Trade creditors - - -
Energy marketing - - -
Regulatory balancing accounts - - -
Other - - 4
Accrued taxes - - (3)
Deferred taxes - - -
Price risk management - - -
Other - - 3
------------------------------------------------------
Total current liabilities - - 4
------------------------------------------------------
Noncurrent liabilities - - -
Long-term debt - - -
Rate reduction bonds - - -
Deferred income taxes - - -
Deferred tax credits - - -
Price risk management - - -
Other - - -
------------------------------------------------------
Total noncurrent liabilities - - -
------------------------------------------------------
Total Liabilities - - 4
------------------------------------------------------
Preferred Stock of Subsidiaries - - -
Utility Obligated Mandatorily Redeemable Preferred Securities
of Trust Holding Solely Utility Subordinated Debentures - - -
Common Stockholders' Equity - - -
Common stock - - -
Common stock held by subsidiary, at cost, 690 4 -
Reinvested earnings (accumulated deficit) - - -
Accumulated other comprehensive income (loss) - - (4)
------------------------------------------------------
Total common stockholders' equity 690 4 (4)
------------------------------------------------------
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 690 $ 4 $ -
======================================================
PG&E Corporation
Consolidating Balance Sheet
December 31, 2000
(in millions)
(unaudited)
Pacific Gas &
Electric Company Eliminations and Total Pacific Gas &
(Consolidated) Reclassifications Unconsolidated Electric Company
------------------------------------------------------------------------------
ASSETS
Current Assets
Cash and cash equivalents $ 111 $ - $ 111 $ 47
Short-term investments 1,283 - 1,283 1,270
Accounts receivable
Customers 993 - 993 992
Related parties 6 (582) 588 21
Energy marketing - - - -
Regulatory balancing accounts 222 - 222 222
Other 718 42 676 676
Price Risk Management - - - -
Inventories 280 97 183 183
Income taxes receivable 1,120 - 1,120 1,120
Prepaid Expense and Other 45 - 45 45
Other current assets - - - -
------------------------------------------------------------------------------
Total current assets 4,778 (443) 5,221 4,576
Property, Plant, and Equipment
Utility 23,872 - 23,872 23,842
Non-Utility
Electric Generation - - - -
Gas Transmission - - - -
Construction work in progress 249 - 249 249
Other - - - -
------------------------------------------------------------------------------
Total property, plant, and equipment
(at original cost) 24,121 - 24,121 24,091
Accumulated depreciation and
decommissioning (11,120) - (11,120) (11,112)
------------------------------------------------------------------------------
Net property, plant, and equipment 13,001 - 13,001 12,979
Other Noncurrent Assets
Investments in subsidiaries - (567) 567 567
Regulatory assets 1,716 - 1,716 1,715
Nuclear decommissioning funds 1,328 - 1,328 1,328
Price risk management - - - -
Other 1,165 (2,231) 3,396 1,150
------------------------------------------------------------------------------
Total noncurrent assets 4,209 (2,798) 7,007 4,760
------------------------------------------------------------------------------
TOTAL ASSETS $ 21,998 $ (3,241) $ 25,229 $ 22,315
==============================================================================
Standard
Alberta and Natural Gas Pacific Gas
Total Southern Gas Corporation of Line Pacific Energy Pacific Gas
Subsidiaries Co. Ltd. California Incorporated Fuels Company Properties
----------------------------------------------------------------------------------------------
ASSETS
Current Assets
Cash and cash equivalents $ 64 $ 14 $ - $ - $ - $ -
Short-term investments 13 - - 1 - -
Accounts receivable
Customers 1 - - - - -
Related parties 587 - 8 - - -
Energy marketing - - - - - -
Regulatory balancing accounts - - - - - -
Other - - - - - -
Price Risk Management - - - - - -
Inventories - - - - - -
Income taxes receivable - - - - - -
Prepaid Expense and Other - - - - - -
Other current assets - - - - - -
-----------------------------------------------------------------------------------------
Total current assets 645 14 8 1 - -
Property, Plant, and Equipment
Utility 30 - - 30 - -
Non-Utility
Electric Generation - - - - - -
Gas Transmission - - - - - -
Construction work in progress - - - - - -
Other - - - - - -
-----------------------------------------------------------------------------------------
Total property, plant, and equipment
(at original cost) 30 - - 30 - -
Accumulated depreciation and
decommissioning (8) - - (8) - -
-----------------------------------------------------------------------------------------
Net property, plant, and equipment 22 - - 22 - -
Other Noncurrent Assets
Investments in subsidiaries - - - - - -
Regulatory assets 1 - - 1 - -
Nuclear decommissioning funds -
Price risk management - - - - - -
Other 2,246 - - - - -
-----------------------------------------------------------------------------------------
Total noncurrent assets 2,247 - - 1 - -
----------------------------------------------------------------------------------------
TOTAL ASSETS $ 2,914 $ 14 $ 8 $ 24 $ - $ -
========================================================================================
PG&E Corporation
Consolidating Balance Sheet
December 31, 2000
(in millions)
(unaudited)
Pacific Gas &
Electric Company Eliminations and Total Pacific Gas &
(Consolidated) Reclassifications Unconsolidated Electric Company
------------------------------------------------------------------------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
Current Liabilities
Short-term borrowings $ 3,079 $ - $ 3,079 $ 3,079
Long-term debt classified as current 2,374 - 2,374 2,374
Current portion of rate reduction bonds 290 - 290 -
Accounts Payable
Trade creditors 3,826 (539) 4,365 4,353
Energy marketing - - - -
Regulatory balancing accounts 196 - 196 196
Other 363 - 363 363
Accrued taxes - 1 (1) 2
Deferred taxes 172 - 172 172
Price risk management - - - -
Other 670 98 572 569
------------------------------------------------------------------------------
Total current liabilities 10,970 (440) 11,410 11,108
------------------------------------------------------------------------------
Noncurrent liabilities
Long-term debt 3,342 (29) 3,371 3,342
Rate reduction bonds 1,740 (1,482) 3,222 1,482
Deferred income taxes 929 - 929 926
Deferred tax credits 192 - 192 192
Price risk management - - - -
Other 2,968 4 2,964 2,964
------------------------------------------------------------------------------
Total noncurrent liabilities 9,171 (1,507) 10,678 8,906
------------------------------------------------------------------------------
Total Liabilities 20,141 (1,947) 22,088 20,014
------------------------------------------------------------------------------
Preferred Stock 431 - 431 431
Utility Obligated Mandatorily Redeemable
Preferred Securities of Trust Holding
Solely Utility Subordinated Debentures 300 (309) 609 309
Common Stockholders' Equity
Common stock 3,570 (553) 4,123 3,571
Common stock held by subsidiary, at cost, (475) (475) - -
Reinvested earnings (accumulated deficit) (1,979) 43 (2,022) (2,011)
Accumulated other comprehensive income
(loss) - - - 1
------------------------------------------------------------------------------
Total common stockholders' equity 1,847 (1,294) 3,141 2,301
------------------------------------------------------------------------------
TOTAL LIABILITIES AND SHAREHOLDERS'
EQUITY $ 21,988 $ (3,241) $ 25,229 $ 22,315
==============================================================================
Standard
Alberta and Natural Gas Pacific Gas
Total Southern Gas Corporation of Line Pacific Energy Pacific Gas
Subsidiaries Co. Ltd. California Incorporated Fuels Company Properties
----------------------------------------------------------------------------------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
Current Liabilities
Short-term borrowings $ - $ - $ - $ - $ - $ -
Long-term debt classified as current -
Current portion of rate reduction bonds 290 - - - - -
Accounts Payable
Trade creditors 12 - - - - 10
Energy marketing - - - - - -
Regulatory balancing accounts - - - - - -
Other - - - - - -
Accrued taxes (3) - 1 (3) - (1)
Deferred taxes - - - - - -
Price risk management - - - - - -
Other 3 - - - - -
----------------------------------------------------------------------------------------
Total current liabilities 302 - 1 (3) - 9
----------------------------------------------------------------------------------------
Noncurrent liabilities
Long-term debt 29 - - 29 - -
Rate reduction bonds 1,740 - - - - -
Deferred income taxes 3 - 1 3 - -
Deferred tax credits - - - - - -
Price risk management - - - - - -
Other - - - - - -
Total noncurrent liabilities 1,772 - - 32 - -
----------------------------------------------------------------------------------------
Total Liabilities 2,074 - 1 29 - 9
----------------------------------------------------------------------------------------
Preferred Stock
Utility Obligated Mandatorily Redeemable
Preferred Securities of Trust Holding
Solely Utility Subordinated Debentures 300 - - - - -
Common Stockholders' Equity
Common stock 552 - 11 11 - -
Common stock held by subsidiary, at cost -
Reinvested earnings (accumulated deficit (11) 15 (4) (16) - (9)
Accumulated other comprehensive
income (loss) (1) (1) - - - -
----------------------------------------------------------------------------------------
Total common stockholders' equity 840 14 7 (5) - (9)
----------------------------------------------------------------------------------------
TOTAL LIABILITIES AND SHAREHOLDERS'
EQUITY $ 2,914 $ 14 $ 8 $ 24 $ - $ -
========================================================================================
PG&E Corporation
Consolidating Balance Sheet
December 31, 2000
(in millions)
(unaudited)
Conservation Eureka PG&E PG&E
Calaska Energy Services Energy PG&E Funding, Holdings
Company Company Company Capital I LLC LLC
-------------------------------------------------------------------------
ASSETS
Current Assets
Cash and cash equivalents $ - $ - $ - $ - $ 50 $ -
Short-term investments - - - - 12 -
Accounts receivable
Customers - - 1 - - -
Related parties - - - - 527 32
Energy marketing - - - - - -
Regulatory balancing accounts - - - - - -
Other - - - - - -
Price Risk Management - - - - - -
Inventories - - - - - -
Income taxes receivable - - - - - -
Prepaid Expense and Other - - - - - -
Other current assets - - - - - -
-------------------------------------------------------------------------
Total current assets - - 1 - 589 32
Property, Plant, and Equipment
Utility - - - - - -
Non-Utility
Electric Generation - - - - - -
Gas Transmission - - - - - -
Construction work in progress - - - - - -
Other - - - - - -
-------------------------------------------------------------------------
Total property, plant, and equipment (at
original cost) - - - - - -
Accumulated depreciation and
decommissioning - - - - - -
-------------------------------------------------------------------------
Net property, plant, and equipment - - - - - -
Other Noncurrent Assets
Investments in subsidiaries - - - - - -
Regulatory assets - - - - - -
Nuclear decommissioning funds - - - - - -
Price risk management - - - - - -
Other - - 4 309 1,490 443
-------------------------------------------------------------------------
Total noncurrent assets - - 4 309 1,490 443
-------------------------------------------------------------------------
TOTAL ASSETS $ - $ - $ 5 $309 $2,079 $475
=========================================================================
PG&E Corporation
Consolidating Balance Sheet
December 31, 2000
(in millions)
(unaudited)
Pacific
Conservation Eureka PG&E PG&E
Calaska Energy Services Energy PG&E Funding, Holdings
Company Company Company Capital I LLC LLC
-------------------------------------------------------------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
Current Liabilities
Short-term borrowings $ - $ - $ - $ - $ - $ -
Long-term debt classified as current - - - - - -
Current portion of rate reduction bonds - - - - 290 -
Accounts Payable
Trade creditors 1 - 1 - - -
Energy marketing - - - - - -
Regulatory balancing accounts - - - - - -
Other - - - - - -
Accrued taxes - - - - - -
Deferred taxes - - - - - -
Price risk management - - - - - -
Other - - - - 3 -
-------------------------------------------------------------------------
Total current liabilities 1 - 1 - 283 -
-------------------------------------------------------------------------
Noncurrent liabilities
Long-term debt - - - - - -
Rate reduction bonds - - - - 1,740 -
Deferred income taxes - - - - - -
Deferred tax credits - - - - - -
Price risk management
Other - - - - - -
-------------------------------------------------------------------------
Total noncurrent liabilities - - - - 1,740 -
-------------------------------------------------------------------------
Total Liabilities 1 - 1 - 2,033 -
-------------------------------------------------------------------------
Preferred Stock - - - - - -
Utility Obligated Mandatorily Redeemable
Preferred Securities of Trust Holding
Solely Utility Subordinated
Debentures - - - - 300 -
Common Stockholders' Equity
Common stock 17 - 4 9 25 475
Common stock held by subsidiary, at cost,
Reinvested earnings (accumulated deficit) (18) - - - 21 -
Accumulated other comprehensive income
(loss) - - - - - -
-------------------------------------------------------------------------
Total common stockholders' equity (1) - 4 309 46 475
-------------------------------------------------------------------------
TOTAL LIABILITIES AND SHAREHOLDERS'
EQUITY $ - $ - $ 5 $309 $2,079 $475
=========================================================================
PG&E NATIONAL ENERGY GROUP
CONSOLIDATING BALANCE SHEET (in millions)
DECEMBER 31, 2000
(unaudited)
PG&E Gas Adjustments
PG&E PG&E Gas Transmission and
Enterprise Transmission Texas NEG Inc Eliminations
ASSETS
Current Assets
Cash and cash equivalents $ 432 $ 5 $ - $ 301 $ -
Restricted cash 53 - - - -
Accounts receivable, trade (net of allowance
for uncollectibles) 2,627 99 301 - (307)
Inventory 101 10 - - -
Price risk management assets, current 2,039 - - - -
Prepaid expenses, deposits and other 351 3 - - -
---------------------------------------------------------------
Total current assets 5,603 117 301 301 (307)
---------------------------------------------------------------
Property, Plant, and Equipment
Property, plant and equipment in service 2,193 1,554 - - -
Accumulated depreciation and decommissioning (213) (544) - - -
Construction work in progress 641 9 - - -
---------------------------------------------------------------
Net property, plant, and equipment 2,621 1,019 0 0 0
---------------------------------------------------------------
Other Noncurrent Assets
Long-term receivables 536 - - - -
Investment in unconsolidated affiliates 413 - - 1,979 (1,978)
Goodwill, net of accumulated amortization 100 - - - -
Price risk management assets, noncurrent 2,026 - - - -
Investment in development projects 131 - - - -
Other 93 63 - - -
---------------------------------------------------------------
Total noncurrent assets 3,299 63 0 1,979 (1,978)
---------------------------------------------------------------
TOTAL ASSETS $11,523 $1,199 $301 $2,280 $(2,285)
===============================================================
PG&E National
Energy
Group
ASSETS
Current Assets
Cash and cash equivalents $ 738
Restricted cash 53
Accounts receivable, trade (net of allowance 0
for uncollectibles) 2,720
Inventory 111
Price risk management assets, current 2,039
Prepaid expenses, deposits and other 354
--------
Total current assets 6,015
--------
Property, Plant, and Equipment
Property, plant and equipment in service 3,747
Accumulated depreciation and decommissioning (757)
Construction work in progress 650
--------
Net property, plant, and equipment 3,640
--------
Other Noncurrent Assets
Long-term receivables 536
Investment in unconsolidated affiliates 414
Goodwill, net of accumulated amortization 100
Price risk management assets, noncurrent 2,026
Investment in development projects 131
Other 156
Total noncurrent assets 3,363
---------
TOTAL ASSETS $13,018
=========
PG&E NATIONAL ENERGY GROUP
CONSOLIDATING BALANCE SHEET (in millions)
DECEMBER 31, 2000
(unaudited)
PG&E Gas Adjustments PG&E National
PG&E PG&E Gas Transmission and Energy
Enterprise Transmission Texas NEG Inc Eliminations Group
LIABILITIES AND EQUITY
Current Liabilities
Short-term borrowings $ 519 $ - $ - $ - $ - $ 519
Current portion of long-term debt 16 1 - - - 17
Obligations due affiliates - - - - - -
Accounts payable -
Trade 2,152 20 - 305 (307) 2,170
Parent 475 1 - 4 - 480
Accrued expenses 196 37 (32) (3) - 198
Price risk management 1,999 - - - - 1,999
Out-of-market contractual
obligations 141 - - - - 141
Other 239 2 - - - 241
--------------------------------------------------------------------------------
Total current liabilities 5,737 61 (32) 306 (307) 5,765
--------------------------------------------------------------------------------
Noncurrent Liabilities
Long-term debt 852 538 - - - 1,390
Deferred income taxes 571 189 (4) - - 756
Price risk management liabilities,
noncurrent 1,867 - - - - 1,867
Out of market contractual obligations 800 - - - - 800
Other 37 24 - - - 61
--------------------------------------------------------------------------------
Total noncurrent liabilities 4,127 751 (4) 0 0 4,874
--------------------------------------------------------------------------------
Minority Interest 17 1 - - - 18
Preferred Stock of Subsidiary 57 - - - - 57
Common Stockholders' Equity
Capital stock, - - - - - -
Paid-in capital 1,300 328 1,305 2,348 (1,628) 3,653
Retained earnings 285 58 (968) (374) (350) (1,349)
--------------------------------------------------------------------------------
Other comprehensive income
Total Common Stockholders' Equity 1,585 386 337 1,974 (1,978) 2,304
--------------------------------------------------------------------------------
TOTAL LIABILITIES AND EQUITY $11,523 $1,199 $ 301 $2,280 $(2,285) $13,018
================================================================================
PG&E NATIONAL ENERGY GROUP
CONSOLIDATING BALANCE SHEET (in millions)
DECEMBER 31, 2000
(unaudited)
PG&E National PG&E Adjustments
Energy Group Overseas, Quantum PG&E and PG&E
Holdings Corp Inc Ventures Enterprises, Inc Eliminations Enterprise
ASSETS
Current Assets
Cash and cash equivalents $ 431 $ - $ - $ - $ - $ 431
Restricted cash 53 - - - - 53
Accounts receivable, trade (net of allowance 0
for uncollectibles) 2,707 - 2 - (81) 2,628
Inventory 101 - - - - 101
Price risk management assets, current 2,039 - - - - 2,039
Prepaid expenses, deposits and other 351 - - - - 351
--------------------------------------------------------------------------------
Total current assets 5,682 - 2 - (81) 5,603
--------------------------------------------------------------------------------
Property, Plant, and Equipment
Property, plant and equipment in service 2,193 - - - - 2,193
Accumulated depreciation and decommissioning (213) - - - - (213)
Construction work in progress 641 - - - - 641
--------------------------------------------------------------------------------
Net property, plant, and equipment 2,621 - - - - 2,621
--------------------------------------------------------------------------------
Other Noncurrent Assets
Long-term receivables 536 - - - - 536
Investment in unconsolidated affiliates 413 - - 1,680 (1,680) 413
Goodwill, net of accumulated amortization 100 - - - - 100
Price risk management assets, noncurrent 2,026 - - - - 2,026
Investment in development projects 131 - - - - 131
Other 93 - - - - 93
--------------------------------------------------------------------------------
Total noncurrent assets 3,299 - - 1,680 (1,680) 3,299
--------------------------------------------------------------------------------
TOTAL ASSETS $11,602 $ - $2 $1,680 $(1,761) $11,523
================================================================================
PG&E NATIONAL ENERGY GROUP
CONSOLIDATING BALANCE SHEET (in millions)
DECEMBER 31, 2000
(unaudited)
PG&E National PG&E Adjustments
Energy Group Overseas, Quantum PG&E and PG&E
Holdings Corp Inc Ventures Enterprises, Inc Eliminations Enterprise
LIABILITIES AND EQUITY
Current Liabilities
Short-term borrowings $ 519 $ - $ - $ - $ - $ 519
Current portion of long-term debt 8 - 8 - - 16
Obligations due affiliates 0 - - - - -
Accounts payable
Trade 2,143 1 9 81 (81) 2,153
Parent 461 - 14 - - 475
Accrued expenses 209 - (21) 7 - 195
Price risk management 1,999 - - - - 1,999
Out-of-market contractual obligations 141 - - - - 141
Other 235 - 4 - - 239
--------------------------------------------------------------------------------
Total current liabilities 5,715 1 14 88 (81) 5,737
--------------------------------------------------------------------------------
Noncurrent Liabilities
Long-term debt 848 - 4 - - 852
Deferred income taxes 580 - (9) - - 571
Price risk management liabilities, noncurrent 1,867 - - - - 1,867
Out of market contractual obligations 800 - - - - 800
Other 36 - - - - 36
--------------------------------------------------------------------------------
Total noncurrent liabilities 4,131 - (5) - - 4,126
--------------------------------------------------------------------------------
Minority Interest 18 - - - - 18
Preferred Stock of Subsidiary 57 - - - - 57
Common Stockholders' Equity
Capital stock, 3 - - - (3) -
Paid-in capital 1,297 5 231 1,300 (1,533) 1,300
Retained earnings 381 (6) (238) 292 (144) 285
Other comprehensive income - - - - - -
--------------------------------------------------------------------------------
Total Common Stockholders' Equity 1,681 (1) (7) 1,592 (1,680) 1,585
--------------------------------------------------------------------------------
TOTAL LIABILITIES AND EQUITY $11,602 $ - $ 2 $1,680 $(1,761) $11,523
================================================================================
PG&E NATIONAL ENERGY GROUP
CONSOLIDATING BALANCE SHEET (in millions)
DECEMBER 31, 2000
(unaudited)
PG&E Adjustments
PG&E Overseas, and PG&E
Australia Inc Eliminations Overseas, Inc
ASSETS
Current Assets
Cash and cash equivalents $ - $ - $ - $ -
Restricted cash - - - -
Accounts receivable, trade (net of allowance
for uncollectibles) - 1 (1) -
Inventory - - - -
Price risk management assets, current - - - -
Prepaid expenses, deposits and other - - - -
------------------------------------------------
Total current assets - 1 (1) -
------------------------------------------------
Property, Plant, and Equipment
Property, plant and equipment in service - - - -
Accumulated depreciation and decommissioning - - - -
Construction work in progress - - - -
------------------------------------------------
Net property, plant, and equipment - - - -
------------------------------------------------
Other Noncurrent Assets
Long-term receivables - - - -
Investment in unconsolidated affiliates - (1) 1 -
Goodwill, net of accumulated amortization - - - -
Price risk management assets, noncurrent - - - -
Investment in development projects - - - -
Other - - - -
------------------------------------------------
Total noncurrent assets - (1) 1 -
------------------------------------------------
TOTAL ASSETS $ - $ - $ - $ -
=================================================
PG&E NATIONAL ENERGY GROUP
CONSOLIDATING BALANCE SHEET (in millions)
DECEMBER 31, 2000
(unaudited)
PG&E Adjustments
PG&E Overseas, and PG&E
Australia Inc Eliminations Overseas, Inc
LIABILITIES AND EQUITY
Current Liabilities
Short-term borrowings $ - $ - $ - $ -
Current portion of long-term debt - - - -
Obligations due affiliates - - - -
Accounts payable -
Trade 1 1 (1) 1
Parent - - - -
Accrued expenses - - - -
Price risk management - - - -
Out-of-market contractual obligations - - - -
Other - - - -
------------------------------------------------
Total current liabilities 1 1 (1) 1
------------------------------------------------
Noncurrent Liabilities
Long-term debt - - - -
Deferred income taxes - - - -
Price risk management liabilities, noncurrent - - - -
Out of market contractual obligations - - - -
Other - - - -
------------------------------------------------
Total noncurrent liabilities - - - -
------------------------------------------------
Minority Interest - - - -
Preferred Stock of Subsidiary - - - -
Common Stockholders' Equity
Capital stock, - - - -
Paid-in capital 1 5 (1) 5
Retained earnings (2) (6) 2 (6)
Other comprehensive income
------------------------------------------------
Total Common Stockholders' Equity (1) (1) 1 (1)
------------------------------------------------
TOTAL LIABILITIES AND EQUITY $ - $ - $ - $ -
================================================
PG&E NATIONAL ENERGY GROUP
CONSOLIDATING BALANCE SHEET (in millions)
DECEMBER 31, 2000
(unaudited)
PG&E Adjustments
Energy Services Barakat & Quantum and Quantum
Ventures, Inc Chamberlin, Inc. Ventures Eliminations Ventures
ASSETS
Current Assets
Cash and cash equivalents $ - $ - $ - $ - $ -
Restricted cash - - - - -
Accounts receivable, trade (net of allowance
for uncollectibles) 1 - - - 1
Inventory - - - - -
Price risk management assets, current - - - - -
Prepaid expenses, deposits and other - - - - -
---------------------------------------------------------------
Total current assets 1 - - - 1
---------------------------------------------------------------
Property, Plant, and Equipment
Property, plant and equipment in service - - - - -
Accumulated depreciation and decommissioning - - - - -
Construction work in progress - - - - -
---------------------------------------------------------------
Net property, plant, and equipment - - - - -
---------------------------------------------------------------
Other Noncurrent Assets
Long-term receivables - - - - -
Investment in unconsolidated affiliates - - (2) 2 -
Goodwill, net of accumulated amortization - - - - -
Price risk management assets, noncurrent - - - - -
Investment in development projects - - - - -
Other - - - - -
---------------------------------------------------------------
Total noncurrent assets - - (2) 2 -
---------------------------------------------------------------
TOTAL ASSETS $ 1 $ - $(2) $ 2 $ 1
==============================================================
PG&E NATIONAL ENERGY GROUP
CONSOLIDATING BALANCE SHEET (in millions)
DECEMBER 31, 2000
(unaudited)
PG&E Adjustments
Energy Services Barakat & Quantum and
Ventures, Inc Chamberlin, Inc. Ventures Eliminations
LIABILITIES AND EQUITY
Current Liabilities
Short-term borrowings $ - $ - $ - $ -
Current portion of long-term debt - - - 8
Obligations due affiliates - - - -
Accounts payable
Trade 9 - - -
Parent 14 - - -
Accrued expenses (21) - - -
Price risk management 4 - - -
Out-of-market contractual obligations - - - -
Other - - - -
----------------------------------------------------
Total current liabilities 6 - - 8
----------------------------------------------------
Noncurrent Liabilities
Long-term debt 7 - 5 (8)
Deferred income taxes (10) - - -
Price risk management liabilities, noncurrent - - - -
Out of market contractual obligations - - - -
Other - - - -
----------------------------------------------------
Total noncurrent liabilities (3) - 5 (8)
----------------------------------------------------
Minority Interest - - - -
Preferred Stock of Subsidiary - - - -
Common Stockholders' Equity
Capital stock, - - - -
Paid-in capital 59 1 231 (60)
Retained earnings (61) (1) (238) 62
Other comprehensive income - - - -
----------------------------------------------------
Total Common Stockholders' Equity (2) - (7) 2
----------------------------------------------------
TOTAL LIABILITIES AND EQUITY $ 1 $ - $ (2) $ 2
====================================================
Quantum
Ventures
LIABILITIES AND EQUITY
Current Liabilities
Short-term borrowings $ -
Current portion of long-term debt 8
Obligations due affiliates -
Accounts payable -
Trade 9
Parent 14
Accrued expenses (21)
Price risk management 4
Out-of-market contractual obligations -
Other -
------
Total current liabilities 14
------
Noncurrent Liabilities
Long-term debt 4
Deferred income taxes (10)
Price risk management liabilities, noncurrent -
Out of market contractual obligations -
Other -
------
Total noncurrent liabilities (6)
------
Minority Interest -
Preferred Stock of Subsidiary -
Common Stockholders' Equity
Capital stock, -
Paid-in capital 231
Retained earnings (238)
Other comprehensive income -
------
Total Common Stockholders' Equity (7)
------
TOTAL LIABILITIES AND EQUITY $ 1
======
PG&E NATIONAL ENERGY GROUP
CONSOLIDATING BALANCE SHEET (in millions)
DECEMBER 31, 2000
(unaudited)
PG&E PG&E Adjustments PG&E National
Generating Energy PG&E PG&E NEG and Energy Group
Company LLC Trading Properties Holdings Eliminations Holdings Corp
ASSETS
Current Assets
Cash and cash equivalents $ 194 $ 237 $ - $ - $ - $ 431
Restricted cash 53 - - - - 53
Accounts receivable, trade (net of -
allowance for uncollectibles) 443 2,389 13 48 (186) 2,707
Inventory 57 45 - - - 102
Price risk management assets, current - 2,051 - - (12) 2,039
Prepaid expenses, deposits and other 3 348 - - - 351
-------------------------------------------------------------------------
Total current assets 750 5,070 13 48 (198) 5,683
-------------------------------------------------------------------------
Property, Plant, and Equipment
Property, plant and equipment in service 2,091 53 49 - - 2,193
Accumulated depreciation and decommissioning (198) (12) (2) - - (212)
Construction work in progress 640 - - - - 640
-------------------------------------------------------------------------
Net property, plant, and equipment 2,533 41 47 - - 2,621
-------------------------------------------------------------------------
Other Noncurrent Assets
Long-term receivables 536 - - - - 536
Investment in unconsolidated affiliates 411 - 2 1,768 (1,768) 413
Goodwill, net of accumulated amortization 71 30 - - - 101
Price risk management assets, noncurrent - 2,026 - - - 2,026
Investment in development projects 131 - - - - 131
Other 86 6 - - - 92
-------------------------------------------------------------------------
Total noncurrent assets 1,235 2,062 2 1,768 (1,768) 3,299
-------------------------------------------------------------------------
TOTAL ASSETS $4,518 $7,173 $62 $1,816 $(1,966) $11,603
=========================================================================
PG&E NATIONAL ENERGY GROUP
CONSOLIDAING BALANCE SHEET (in millions)
DECEMBER 31, 2000
(unaudited)
PG&E PG&E Adjustments PG&E National
Generating Energy PG&E PG&E NEG and Energy Group
Company LLC Trading Properties Holdings Eliminations Holdings Corp
LIABILITIES AND EQUITY
Current Liabilities
Short-term borrowings $ 519 $ - $ - $ - $ - $ 519
Current portion of long-term debt 8 - - - - 8
Obligations due affiliates - - - - - -
Accounts payable -
Trade 89 2,225 3 12 (186) 2,143
Parent 317 9 3 133 - 462
Accrued expenses 81 123 - 5 - 209
Price risk management - 1,999 - - - 1,999
Out-of-market contractual obligations 141 - - - - 141
Other 1 235 - - - 236
------------------------------------------------------------------------
Total current liabilities 1,156 4,591 6 150 (186) 5,717
------------------------------------------------------------------------
Noncurrent Liabilities
Long-term debt 841 - - - - 841
Deferred income taxes 492 121 7 - - 620
Price risk management liabilities, noncurrent - 1,867 (6) (22) (5) 1,834
Out of market contractual obligations 800 - - - - 800
Other 17 19 - - - 36
------------------------------------------------------------------------
Total noncurrent liabilities 2,150 2,007 1 (22) (5) 4,131
------------------------------------------------------------------------
Minority Interest 17 - - - - 17
Preferred Stock of Subsidiary 58 - - - - 58
Common Stockholders' Equity
Capital stock, - - - 3 - 3
Paid-in capital - 684 24 1,297 (708) 1,297
Retained earnings 1,137 (109) 31 388 (1,067) 380
Other comprehensive income - - - - - -
------------------------------------------------------------------------
Total Common Stockholders' Equity 1,137 575 55 1,688 (1,775) 1,680
------------------------------------------------------------------------
TOTAL LIABILITIES AND EQUITY $4,518 $7,173 $ 62 $1,816 $(1,966) $11,603
========================================================================
PG&E NATIONAL ENERGY GROUP
CONSOLIDATING BALANCE SHEET (in millions)
DECEMBER 31, 2000
(unaudited)
PG&E Energy PG&E Energy PG&E Energy Adjustments
PG&E Trading Power Trading Gas Trading and
International Holdings Corp Corporation Holdings Eliminations
ASSETS
Current Assets
Cash and cash equivalents $74 $ - $ 7 $156 $ -
Restricted cash - - - - -
Accounts receivable, trade (net of
allowance for uncollectibles) 1 1,192 1,252 (62) 7
Inventory - - 45 - -
Price risk management assets, current - 1,674 436 - -
Prepaid expenses, deposits and other - 112 235 - -
-----------------------------------------------------------------
Total current assets 75 2,978 1,975 94 7
-----------------------------------------------------------------
Property, Plant, and Equipment
Property, plant and equipment in service - 26 28 - -
Accumulated depreciation and decommissioning - (1) (12) - -
Construction work in progress - - - - -
-----------------------------------------------------------------
Net property, plant, and equipment - 25 16 - -
-----------------------------------------------------------------
Other Noncurrent Assets
Long-term receivables - - - - -
Investment in unconsolidated affiliates - - - 510 (510)
Goodwill, net of accumulated amortization - 2 27 - -
Price risk management assets, noncurrent - 1,833 193 - -
Investment in development projects - - 6 - -
Other - - - - -
-----------------------------------------------------------------
Total noncurrent assets - 1,835 226 510 (510)
-----------------------------------------------------------------
TOTAL ASSETS $75 $4,838 $2,217 $604 $(503)
=================================================================
PG&E Energy Adjustments Consolidated
Trading Power and Trading
Holdings Corp Eliminations Business
ASSETS
Current Assets
Cash and cash equivalents $ 237 $ - $ 237
Restricted cash - - -
Accounts receivable, trade (net of
allowance for uncollectibles) 2,390 - 2,390
Inventory 45 - 45
Price risk management assets, current 2,110 (59) 2,051
Prepaid expenses, deposits and other 347 - 347
-----------------------------------------
Total current assets 5,129 (59) 5,070
-----------------------------------------
Property, Plant, and Equipment
Property, plant and equipment in service 54 - 54
Accumulated depreciation and decommissioning (13) - (13)
Construction work in progress - - -
-----------------------------------------
Net property, plant, and equipment 41 - 41
-----------------------------------------
Other Noncurrent Assets
Long-term receivables - - -
Investment in unconsolidated affiliates - - -
Goodwill, net of accumulated amortization 29 - 29
Price risk management assets, noncurrent 2,026 - 2,026
Investment in development projects 6 - 6
Other - - -
-----------------------------------------
Total noncurrent assets 2,061 - 2,061
-----------------------------------------
TOTAL ASSETS $7,231 $(59) $7,172
=========================================
PG&E NATIONAL ENERGY GROUP
CONSOLIDATING BALANCE SHEET (in millions)
DECEMBER 31, 2000
(unaudited)
PG&E Energy PG&E Energy PG&E Energy Adjustments
PG&E Trading Power Trading Gas Trading and
International Holdings Corp Corporation Holdings Eliminations
LIABILITIES AND EQUITY
Current Liabilities
Short-term borrowings $ - $ - $ - $ - $ -
Current portion of long-term debt - - - - -
Obligations due affiliates - - - - -
Accounts payable
Trade - 1,122 1,088 8 7
Parent - - 10 (1) -
Accrued expenses - 49 54 20 -
Price risk management - 1,655 404 - -
Out-of-market contractual obligations - 132 102 - -
Other - - - - -
-------------------------------------------------------------------------
Total current liabilities - 2,958 1,658 27 7
-------------------------------------------------------------------------
Noncurrent Liabilities
Long-term debt - - - - -
Deferred income taxes - 68 51 1 -
Price risk management liabilities, noncurrent - 1,689 178 - -
Out of market contractual obligations - - - - -
Other - 18 1 - -
-------------------------------------------------------------------------
Total noncurrent liabilities - 1,775 230 1 -
-------------------------------------------------------------------------
Minority Interest - 2 - - (23)
Preferred Stock of Subsidiary - - - - -
Common Stockholders' Equity
Capital stock, - - - - -
Paid-in capital 82 48 529 565 (659)
Retained earnings (7) 55 (200) 11 172
Other comprehensive income - - - - -
-------------------------------------------------------------------------
Total Common Stockholders' Equity 75 103 329 576 (487)
-------------------------------------------------------------------------
TOTAL LIABILITIES AND EQUITY $75 $4,838 $2,217 $604 $ (503)
=========================================================================
PG&E Energy Adjustments Consolidated
Trading Power and Trading
Holdings Corp Eliminations Business
LIABILITIES AND EQUITY
Current Liabilities
Short-term borrowings $ - $ - $ -
Current portion of long-term debt - - -
Obligations due affiliates - - -
Accounts payable - - -
Trade 2,225 - 2,225
Parent 9 - 9
Accrued expenses 123 - 123
Price risk management 2,059 (59) 2,000
Out-of-market contractual obligations 234 - 234
Other - - -
---------------------------------------
Total current liabilities 4,650 (59) 4,591
---------------------------------------
Noncurrent Liabilities
Long-term debt - - -
Deferred income taxes 120 - 120
Price risk management liabilities, noncurrent 1,867 - 1,867
Out of market contractual obligations - - -
Other 19 - 19
---------------------------------------
Total noncurrent liabilities 2,006 - 2,006
---------------------------------------
Minority Interest (21) 21 -
Preferred Stock of Subsidiary - - -
Common Stockholders' Equity
Capital stock, - - -
Paid-in capital 565 119 684
Retained earnings 31 (140) (109)
Other comprehensive income - - -
---------------------------------------
Total Common Stockholders' Equity 596 (21) 575
---------------------------------------
TOTAL LIABILITIES AND EQUITY $7,231 $ (59) $7,172
=======================================
PG&E NATIONAL ENERGY GROUP
CONSOLIDATING BALANCE SHEET (in millions)
DECEMBER 31, 2000
(unaudited)
PG&E Gannet Rocksavage PG&E Int'l Adjustments PG&E
Overseas Power Services I Development PG&E and International
Holdings I Ltd Corporation Inc Holdings International Eliminations Inc
ASSETS
Current Assets
Cash and cash equivalents $74 $ - $ - $ - $ - $ - $74
Restricted cash - - - - - - -
Accounts receivable, trade
(net of allowance for
uncollectibles) 1 - - - 1 (1) 1
Inventory - - - - - - -
Price risk management assets,
current - - - - - - -
Prepaid expenses, deposits and
other - - - - - - -
-------------------------------------------------------------------------------------------------
Total current assets 75 - - - 1 (1) 75
-------------------------------------------------------------------------------------------------
Property, Plant, and Equipment
Property, plant and equipment
in service - - - - - - -
Accumulated depreciation and
decommissioning - - - - - - -
Construction work in progress - - - - - - -
-------------------------------------------------------------------------------------------------
Net property, plant, and
equipment - - - - - - -
-------------------------------------------------------------------------------------------------
Other Noncurrent Assets
Long-term receivables - - - - - - -
Investment in unconsolidated
affiliates - - - - 75 (75) -
Goodwill, net of accumulated
amortization - - - - - - -
Price risk management assets,
noncurrent - - - - - - -
Investment in development
projects - - - - - - -
Other - - - - - - -
-------------------------------------------------------------------------------------------------
Total noncurrent assets - - - - 75 (75) -
-------------------------------------------------------------------------------------------------
TOTAL ASSETS $75 $ - $ - $ - $76 $(76) $75
=================================================================================================
PG&E NATIONAL ENERGY GROUP
CONSOLIDATING BALANCE SHEET (in millions)
DECEMBER 31, 2000
(unaudited)
PG&E Gannet Rocksavage PG&E Int'l Adjustments PG&E
Overseas Power Services I Development PG&E and International
Holdings I Ltd Corporation Inc Holdings International Eliminations Inc
LIABILITIES AND EQUITY
Current Liabilities
Short-term borrowings $ - $ - $ - $ - $ - $ - $ -
Current portion of long-term
debt - - - - - - -
Obligations due affiliates - - - - - - -
Accounts payable
Trade 1 (1) - - 1 (1) -
Parent 1 (1) - - - - -
Accrued expenses - - - - - - -
Price risk management - - - - - - -
Out-of-market contractual
obligations - - - - - - -
Other - - - - - - -
-------------------------------------------------------------------------------------------------
Total current liabilities 2 (2) - - 1 (1) -
-------------------------------------------------------------------------------------------------
Noncurrent Liabilities
Long-term debt - - - - - - -
Deferred income taxes - - - - - - -
Price risk management
liabilities, noncurrent - - - - - - -
Out of market contractual
obligations - - - - - - -
Other - - - - - - -
-------------------------------------------------------------------------------------------------
Total noncurrent liabilities - - - - - - -
-------------------------------------------------------------------------------------------------
Minority Interest - - - - - - -
Preferred Stock of Subsidiary - - - - - - -
Common Stockholders' Equity
Capital stock, - - - - - - -
Paid-in capital 1 4 - - 82 (5) 82
Retained earnings 72 (2) - - (7) (70) (7)
Other comprehensive income - - - - - - -
-------------------------------------------------------------------------------------------------
Total Common Stockholders'
Equity 73 2 - - 75 (75) 75
-------------------------------------------------------------------------------------------------
TOTAL LIABILITIES AND EQUITY $75 $ - $ - $ - $76 $(76) $75
=================================================================================================
PG&E NATIONAL ENERGY GROUP
CONSOLIDATING BALANCE SHEET (in millions)
DECEMBER 31, 2000
(unaudited)
PG&E Corporation PG&E Overseas Adjustments PG&E
Australian Holdings I and Overseas
Holdings Pty Ltd Eliminations Holdings I Ltd
ASSETS
Current Assets
Cash and cash equivalents $ 3 $ 72 $ - $ 75
Restricted cash - - - -
Accounts receivable, trade (net of allowance - - - -
for uncollectibles) 66 1 (66) 1
Inventory - - - -
Price risk management assets, current - - - -
Prepaid expenses, deposits and other - - - -
------------------------------------------------------
Total current assets 69 73 (66) 76
------------------------------------------------------
Property, Plant, and Equipment
Property, plant and equipment in service - - - -
Accumulated depreciation and decommissioning - - - -
Construction work in progress - - - -
------------------------------------------------------
Net property, plant, and equipment - - - -
------------------------------------------------------
Other Noncurrent Assets
Long-term receivables - - - -
Investment in unconsolidated affiliates - 69 (69) -
Goodwill, net of accumulated amortization - - - -
Price risk management assets, noncurrent - - - -
Investment in development projects - - - -
Other - - - -
------------------------------------------------------
Total noncurrent assets - 69 (69) -
------------------------------------------------------
TOTAL ASSETS $69 $142 $(135) $76
======================================================
PG&E NATIONAL ENERGY GROUP
CONSOLIDATING BALANCE SHEET (in millions)
DECEMBER 31, 2000
(unaudited)
PG&E Corporation PG&E Overseas Adjustments PG&E
Australian Holdings I and Overseas
Holdings Pty Ltd Eliminations Holdings I Ltd
LIABILITIES AND EQUITY
Current Liabilities
Short-term borrowings $ - $ - $ - $ -
Current portion of long-term debt - - - -
Obligations due affiliates - - - -
Accounts payable
Trade - 68 (66) 2
Parent - 1 - 1
Accrued expenses - - - -
Price risk management - - - -
Out-of-market contractual obligations - - - -
Other - - - -
--------------------------------------------------------------
Total current liabilities - 69 (66) 3
--------------------------------------------------------------
Noncurrent Liabilities
Long-term debt - - - -
Deferred income taxes - - - -
Price risk management liabilities, noncurrent - - - -
Out of market contractual obligations - - - -
Other - - - -
--------------------------------------------------------------
Total noncurrent liabilities - - - -
--------------------------------------------------------------
Minority Interest 73 - (73) -
Preferred Stock of Subsidiary - - - -
Common Stockholders' Equity
Capital stock, - - - -
Paid-in capital (4) 1 - (3)
Retained earnings - 72 4 76
Other comprehensive income - - - -
--------------------------------------------------------------
Total Common Stockholders' Equity (4) 73 4 73
--------------------------------------------------------------
TOTAL LIABILITIES AND EQUITY $69 $142 $(135) $76
==============================================================
PG&E NATIONAL ENERGY GROUP
CONSOLIDATING BALANCE SHEET (in millions)
DECEMBER 31, 2000
(unaudited)
The Conway
Gilia Ranch
Enterprises DPR Inc Company BPS I Inc
--------------------------------------------
ASSETS
Current Assets $ - $ - $ - $ -
Cash and cash equivalents - - - -
Restricted cash
Accounts receivable, trade (net of allowance
for uncollectibles) 1 - - 3
Inventory - - - -
Price risk management assets, current - - - -
Prepaid expenses, deposits and other - - - -
--------------------------------------
Total current assets 1 - - 3
--------------------------------------
Property, Plant, and Equipment
Property, plant and equipment in service - - - -
Accumulated depreciation and decommissioning - - - -
Construction work in progress - - - -
--------------------------------------
Net property, plant, and equipment - - - -
--------------------------------------
Other Noncurrent Assets
Long-term receivables - - - -
Investment in unconsolidated affiliates (1) - 3 (2)
Goodwill, net of accumulated amortization - - - -
Price risk management assets, noncurrent - - - -
Investment in development projects - - - -
Other - - - -
--------------------------------------
Total noncurrent assets (1) - 3 (2)
--------------------------------------
TOTAL ASSETS $ - $ - $ 3 $ 1
======================================
Oak Creek Marengo Ranch Conway Alhambra
Associates Joint Conservancy Gr Pacific
Joint Venture Venture Joint Venture Joint Venture
--------------------------------------------------------------
ASSETS
Current Assets $ - $ - $ - $ -
Cash and cash equivalents - - - -
Restricted cash
Accounts receivable, trade (net of allowance
for uncollectibles) - - 8 -
Inventory - - - -
Price risk management assets, current - - - -
Prepaid expenses, deposits and other - - - -
--------------------------------------------------------
Total current assets - - 8 -
--------------------------------------------------------
Property, Plant, and Equipment
Property, plant and equipment in service 1 17 39 7
Accumulated depreciation and decommissioning - - (2) -
Construction work in progress - - - -
--------------------------------------------------------
Net property, plant, and equipment 1 17 37 7
--------------------------------------------------------
Other Noncurrent Assets
Long-term receivables - - - -
Investment in unconsolidated affiliates - - - -
Goodwill, net of accumulated amortization - - - -
Price risk management assets, noncurrent - - - -
Investment in development projects - - - -
Other - - - -
--------------------------------------------------------
Total noncurrent assets - - - -
--------------------------------------------------------
TOTAL ASSETS $ 1 $ 17 $ 45 $ 7
========================================================
PG&E NATIONAL ENERGY GROUP
CONSOLIDATING BALANCE SHEET (in millions)
DECEMBER 31, 2000
(unaudited)
Valley Real Adjustments
Estate and Consolidated
Inc Eliminations Properties
-------------------------------------------------
ASSETS
Current Assets
Cash and cash equivalents $ - $ - $ -
Restricted cash - - -
Accounts receivable, trade (net of allowance
for uncollectibles) - - 12
Inventory - - -
Price risk management assets, current - - -
Prepaid expenses, deposits and other - - -
-------------------------------------------------
Total current assets - - 12
-------------------------------------------------
Property, Plant, and Equipment
Property, plant and equipment in service - (15) 49
Accumulated depreciation and decommissioning - - (2)
Construction work in progress - - -
-------------------------------------------------
Net property, plant, and equipment - (15) 47
-------------------------------------------------
Other Noncurrent Assets
Long-term receivables - - -
Investment in unconsolidated affiliates - 1 1
Goodwill, net of accumulated amortization - - -
Price risk management assets, noncurrent - - -
Investment in development projects - - -
Other - - -
-------------------------------------------------
Total noncurrent assets - 1 1
-------------------------------------------------
TOTAL ASSETS $ - $ (14) $ 60
================================================
PG&E NATIONAL ENERGY GROUP
CONSOLIDATING BALANCE SHEET (in millions)
DECEMBER 31, 2000
(unaudited)
The Conway Oak Creek
Gilia Ranch Associates
Enterprises DPR Inc Company BPS I Inc Joint Venture
-------------------------------------------------------------
LIABILITIES AND EQUITY
Current Liabilities
Short-term borrowings $ - $ - $ - $ - $ -
Current portion of long-term debt - - - - -
Obligations due affiliates - - - - -
Accounts payable
Trade - - 3 - -
Parent - - - - 1
Accrued expenses - - - - -
Price risk management - - - - -
Out-of-market contractual obligations - - - - -
Other - - - - -
----------------------------------------------------------
Total current liabilities - - 3 - 1
----------------------------------------------------------
Noncurrent Liabilities
Long-term debt - - 6 - -
Deferred income taxes - - (3) (3) -
Price risk management liabilities, noncurrent - - - - -
Out of market contractual obligations - - - - -
Other - - - - -
----------------------------------------------------------
Total noncurrent liabilities - - 3 (3) -
----------------------------------------------------------
Minority Interest - - - - -
Preferred Stock of Subsidiary - - - - -
Common Stockholders' Equity
Capital stock, $1.00 par value; 1,000 shares issued
and outstanding - - - - -
Paid-in capital 2 - 3 8 -
Retained earnings (2) - (6) (4) -
Other comprehensive income - - - - -
----------------------------------------------------------
Total Common Stockholders' Equity - - (3) 4 -
----------------------------------------------------------
TOTAL LIABILITIES AND EQUITY $ - $ - $ 3 $ 1 $ 1
==========================================================
Marengo Ranch Conway Alhambra
Joint Conservancy Gr Pacific
Venture Joint Venture Joint Venture
----------------------------------------------
LIABILITIES AND EQUITY
Current Liabilities
Short-term borrowings $ - $ - $ -
Current portion of long-term debt - - -
Obligations due affiliates - - -
Accounts payable
Trade - - 1
Parent - - -
Accrued expenses - - -
Price risk management - - -
Out-of-market contractual obligations - - -
Other - - -
---------------------------------------------
Total current liabilities - - 1
---------------------------------------------
Noncurrent Liabilities
Long-term debt - - -
Deferred income taxes - - -
Price risk management liabilities, noncurrent - - -
Out of market contractual obligations - - -
Other - - -
---------------------------------------------
Total noncurrent liabilities - - -
---------------------------------------------
Minority Interest - - -
Preferred Stock of Subsidiary - - -
Common Stockholders' Equity
Capital stock, - - -
Paid-in capital - - 8
Retained earnings 17 45 (2)
Other comprehensive income - - -
---------------------------------------------
Total Common Stockholders' Equity 17 45 6
---------------------------------------------
TOTAL LIABILITIES AND EQUITY $ 17 $ 45 $ 7
=============================================
PG&E NATIONAL ENERGY GROUP
CONSOLIDATING BALANCE SHEET (in millions)
DECEMBER 31, 2000
(unaudited)
Valley Real Adjustments
Estate and Consolidated
Inc Eliminations Properties
------------------------------------------
LIABILITIES AND EQUITY
Current Liabilities
Short-term borrowings $ - $ - $ -
Current portion of long-term debt - - -
Obligations due affiliates - - -
Accounts payable -
Trade - - 3
Parent - - 2
Accrued expenses - - -
Price risk management - - -
Out-of-market contractual obligations - - -
Other - - -
------------------------------------------
Total current liabilities - - 5
------------------------------------------
Noncurrent Liabilities
Long-term debt - - 6
Deferred income taxes - - (6)
Price risk management liabilities, noncurrent - - -
Out of market contractual obligations - - -
Other - - -
------------------------------------------
Total noncurrent liabilities - - -
------------------------------------------
Minority Interest - - -
Preferred Stock of Subsidiary - - -
Common Stockholders' Equity
Capital stock, - - -
Paid-in capital - 3 24
Retained earnings - (17) 31
Other comprehensive income - - -
------------------------------------------
Total Common Stockholders' Equity - (14) 55
------------------------------------------
TOTAL LIABILITIES AND EQUITY $ - $ (14) $ 60
==========================================
EXHIBIT B
If at the time a report on this form is filed, the registrant is required to
submit this report and any amendments thereto electronically via EDGAR, the
registrant shall furnish a Financial Data Schedule. The Schedule shall set
forth the financial and other data specified below that are applicable to the
registrant on a consolidated basis.
Item No. Caption Heading
(in millions)
1. Total assets at December 31, 1999 $ 29,470
1. Total assets at December 31, 2000 $ 35,291
2. Total operating revenue for the
period ending December 31, 1999 $ 20,820
2. Total operating revenue for the
period ending December 31, 2000 $ 26,232
3. Income available for common stock
at December 31, 1999 $ (73)
3. Income available for common stock
at December 31, 2000 $ (3,364)
EXHIBIT C
An organizational chart showing the relationship of each Exempt
Wholesale Generator (EWG) or foreign utility company to associate
companies in the holding-company system.
Exempt Wholesale Generators EWGs):
----------------------------------
1. PITTSFIELD GENERATING COMPANY, L.P.
PG&E Corporation
PG&E National Energy Group, Inc.
PG&E Enterprises
PG&E Shareholdings, Inc.
PG&E Generating Company, LLC
PG&E Generating Power Group, LLC
Beale Generating Company
JMC Altresco, Inc.
Altresco, Inc.
Pittsfield Generating Company, L.P.
Pittsfield Partners, Inc.
Pittsfield Generating Company, L.P.
2. SELKIRK COGEN PARTNERS, L.P.
PG&E Corporation
PG&E National Energy Group, Inc.
(formerly PG&E Diversified Investments, Inc.)
PG&E Enterprises
PG&E Shareholdings, Inc.
(formerly PG&E Generating Company)
PG&E Generating Company, LLC
(formerly U.S. Generating Company, LLC)
PG&E Generating Power Group, LLC
(formerly USGen Power Group, LLC)
Beale Generating Company
(formerly J. Makowski Company, Inc.)
JMC Selkirk Holdings, Inc.
JMC Selkirk, Inc.
PentaGen Investors, L.P.
Selkirk Cogen Partners, L.P.
Selkirk Cogen Funding Corporation
Selkirk Cogen Partners, L.P.
Selkirk Cogen Funding Corporation
JMCS I Holdings, Inc.
PentaGen Investors, L.P.
Selkirk Cogen Partners, L.P.
Selkirk Cogen Funding Corporation
3. KEYSTONE URBAN RENEWAL LIMITED PARTNERSHIP
PG&E Corporation
PG&E National Energy Group, Inc.
(formerly PG&E Diversified Investments, Inc.)
PG&E Enterprises
PG&E Shareholdings, Inc.
(formerly PG&E Generating Company)
PG&E Generating Company, LLC
(formerly U.S. Generating Company, LLC)
PG&E Generating Power Group, LLC
(formerly USGen Power Group, LLC)
Eagle Power Corporation
Keystone Cogeneration Company, L.P.
Keystone Urban Renewal Limited Partnership
4. LOGAN GENERATING COMPANY, L.P.
PG&E Corporation
PG&E National Energy Group, Inc.
47
(formerly PG&E Diversified Investments, Inc.)
PG&E Enterprises
PG&E Shareholdings, Inc.
(formerly PG&E Generating Company)
PG&E Generating Company, LLC
(formerly U.S. Generating Company, LLC)
PG&E Generating Power Group, LLC
(formerly USGen Power Group, LLC)
Eagle Power Corporation
Logan Generating Company, L.P.
5. HERMISTON GENERATING COMPANY, L.P.
PG&E Corporation
PG&E National Energy Group, Inc.
(formerly PG&E Diversified Investments, Inc.)
PG&E Enterprises
PG&E Shareholdings, Inc.
(formerly PG&E Generating Company)
PG&E Generating Company, LLC
(formerly U.S. Generating Company, LLC)
PG&E Generating Power Group, LLC
(formerly USGen Power Group, LLC)
Larkspur Power Corporation
Hermiston Generating Company, L.P.
Buckeye Power Corporation
Hermiston Generating Company, L.P.
6. MASSPOWER
PG&E Corporation
PG&E National Energy Group, Inc.
(formerly PG&E Diversified Investments, Inc.)
PG&E Enterprises
PG&E Shareholdings, Inc.
(formerly PG&E Generating Company)
PG&E Generating Company, LLC
(formerly U.S. Generating Company, LLC)
PG&E Generating Power Group, LLC
(formerly USGen Power Group, LLC)
Beale Generating Company
Indian Orchard Generating Company, Inc.
MASSPOWER, L.L.C.
MASSPOWER
7. MILLENNIUM POWER PARTNERS L.P.
PG&E Corporation
PG&E National Energy Group, Inc.
(formerly PG&E Diversified Investments, Inc.)
PG&E Enterprises
PG&E Shareholdings, Inc.
(formerly PG&E Generating Company)
PG&E Generating Company, LLC
(formerly U.S. Generating Company, LLC)
PG&E Generating Energy Group, LLC
(formerly USGen Energy Group, LLC)
Peach III Power Corporation
Millennium Power Partners, L.P.
Black Hawk II Power Corporation
Millennium Power Partners, L.P.
8. CEDAR BAY GENERATING COMPANY, LIMITED PARTNERSHIP
PG&E Corporation
PG&E National Energy Group, Inc.
(formerly PG&E Diversified Investments, Inc.)
PG&E Enterprises
PG&E Shareholdings, Inc.
(formerly PG&E Generating Company)
PG&E Generating Company, LLC
(formerly U.S. Generating Company, LLC)
PG&E Generating Power Group, LLC
(formerly USGen Power Group, LLC)
Raptor Holdings Company
48
Gray Hawk Power Corporation
Cedar Bay Cogeneration, Inc.
Cedar Bay Generating Company, Limited Partnership
9. NORTHAMPTON GENERATING COMPANY, L.P.
PG&E Corporation
PG&E National Energy Group, Inc.
PG&E Enterprises
PG&E Shareholdings, Inc.
PG&E Generating Company, LLC
PG&E Generating Power Group, LLC
Jaeger Power Corporation
Northampton Generating Company, L.P.
Northampton Fuel Supply Company, Inc.
Northampton Water Supply, Inc.
10. SCRUBGRASS GENERATING COMPANY, L.P.
PG&E Corporation
PG&E National Energy Group, Inc.
PG&E Enterprises
PG&E Shareholdings, Inc.
PG&E Generating Company, LLC
PG&E Generating Power Group, LLC
Falcon Power Corporation
Scrubgrass Generating Company, L.P.
Scrubgrass Power Corp
Scrubgrass Generating Company, L.P.
Clearfield Properties, Inc.
Leechburg Properties, Inc.
11. INDIANTOWN COGENERATION, L.P.
PG&E Corporation
PG&E National Energy Group, Inc.
PG&E Enterprises
PG&E Shareholdings, Inc.
PG&E Generating Company, LLC
PG&E Generating Power Group, LLC
Toyan Enterprises
Indiantown Cogeneration L.P.
Indiantown Project Investment Partnership L.P.
Indiantown Cogeneration, L.P.
Indiantown Cogeneration Funding Corporation
12. CHAMBERS COGENERATION LIMITED PARTNERSHIP
PG&E Corporation
PG&E National Energy Group, Inc.
PG&E Enterprises
PG&E Shareholdings, Inc.
PG&E Generating Company, LLC
PG&E Generating Power Group, LLC
Peregrine Power Corporation
Chambers Cogeneration Limited Partnership
13. ATHENS GENERATING COMPANY, L.P.
PG&E Corporation
PG&E National Energy Group, Inc.
PG&E Enterprises
PG&E Shareholdings, Inc.
PG&E Generating Company, LLC
PG&E Generating Energy Group, LLC
Black Hawk Power Corporation
Athens Generating Company, L.P.
Peach I Power Corporation
Athens Generating Company, L.P.
14. LA PALOMA GENERATING COMPANY, LLC
PG&E Corporation
PG&E National Energy Group, Inc.
PG&E Enterprises
49
PG&E Shareholdings, Inc.
PG&E Generating Company, LLC
PG&E Generating Energy Group, LLC
PG&E Generating Energy Holdings, Inc.
La Paloma Generating Company, LLC
15. LAKE ROAD GENERATING COMPANY, L.P.
PG&E Corporation
PG&E National Energy Group, Inc.
(formerly PG&E Diversified Investments, Inc.)
PG&E Enterprises
PG&E Shareholdings, Inc.
(formerly PG&E Generating Company)
PG&E Generating Company, LLC
(formerly U.S. Generating Company, LLC)
PG&E Generating Energy Group, LLC
(formerly USGen Energy Group, LLC)
Peach IV Power Corporation
Lake Road Generating Company, L.P.
Black Hawk III Power Corporation
Lake Road Generating Company, L.P.
16. MANTUA CREEK GENERATING COMPANY L.P.
PG&E Corporation
PG&E National Energy Group, Inc.
PG&E Enterprises
PG&E Shareholdings, Inc.
PG&E Generating Company, LLC
PG&E Generating Energy Group, LLC
Beech Power Corporation
Mantua Creek Generating Company L.P.
Plover Power Corporation
Mantua Creek Generating Company L.P.
17. OKEECHOBEE GENERATING COMPANY, LLC
PG&E Corporation
PG&E National Energy Group, Inc.
PG&E Enterprises
PG&E Shareholdings, Inc.
PG&E Generating Company, LLC
PG&E Generating Energy Group, LLC
PG&E Generating Energy Holdings, Inc.
Okeechobee Generating Company, LLC
Okeechobee Power Corporation
Okeechobee Generating Company, LLC
18. USGEN NEW ENGLAND, INC.
PG&E Corporation
PG&E National Energy Group, Inc.
PG&E Enterprises
PG&E Shareholdings, Inc.
PG&E Generating Company, LLC
PG&E Generating Energy Group, LLC
USGen New England, Inc.
19. PG&E DISPERSED GENERATING COMPANY, LLC
PG&E Corporation
PG&E National Energy Group, Inc.
PG&E Enterprises
PG&E Shareholdings, Inc.
PG&E Generating Company, LLC
PG&E Generating Energy Group, LLC
PG&E Generating Energy Holdings, Inc.
PG&E Dispersed Generating Company, LLC
PG&E Dispersed Power Corporation
PG&E Dispersed Generating Company, LLC
20. LIBERTY GENERATING COMPANY, LLC
PG&E Corporation
50
PG&E National Energy Group, Inc.
PG&E Enterprises
PG&E Shareholdings, Inc.
PG&E Generating Company, LLC
PG&E Generating Energy Group, LLC
PG&E Generating Energy Holdings, LLC
Liberty Generating Company, LLC
Liberty Generating Corporation
Liberty Generating Company, LLC
21. BADGER GENERATING COMPANY, LLC
PG&E Corporation
PG&E National Energy Group, Inc.
PG&E Enterprises
PG&E Shareholdings, Inc.
PG&E Generating Company, LLC
PG&E Generating Energy Group, LLC
PG&E Generating Energy Holdings, LLC
Badger Generating Company, LLC
Badger Power Corporation
Badger Generating Company, LLC
22. MADISON WINDPOWER LLC
PG&E Corporation
PG&E National Energy Group, Inc.
PG&E Enterprises
PG&E Shareholdings, Inc.
PG&E Generating Company, LLC
PG&E Generating Energy Group, LLC
PG&E Generating Energy Holdings, LLC
Madison Windpower LLC
Madison Wind Power Corporation
Madison Windpower LLC
23. COVERT GENERATING COMPANY, LLC
PG&E Corporation
PG&E National Energy Group, Inc.
PG&E Enterprises
PG&E Shareholdings, Inc.
PG&E Generating Company, LLC
PG&E Generating Energy Group, LLC
PG&E Generating Energy Holdings, LLC
Covert Generating Company, LLC
Covert Power Corporation
Covert Generating Company, LLC
51
PG&E CORPORATION
The above-named claimant has caused this statement to be duly executed on its
behalf by its authorized officer on this thirtieth day of April, 2001.
PG&E Corporation
By PETER A. DARBEE
..............................................................
PETER A. DARBEE
Senior Vice President
Chief Financial Officer and
Treasurer
Corporate Seal
Attest:
LINDA Y. H. CHENG
.............................................................
LINDA Y. H. CHENG
Corporate Secretary
Name, title and address of officer to whom notices and correspondence concerning
this statement should be addressed.
Christopher P. Johns
Controller
PG&E Corporation
One Market, Spear Tower, Suite 2400
San Francisco, CA 94177
52