Subject: energy : notes from pg & e conference call
thought this might be helpful .
- - - - - - - - - - - - - - - - - - - - - - forwarded by don miller / hou / ect on 04 / 06 / 2001 03 : 24 pm - - - - - - - - - - - - - - - - - - - - - - - - - - -
jon cartwright on 04 / 06 / 2001 02 : 52 : 18 pm
to : " ' rjf energy - gram ' "
cc :
subject : energy : notes from pg & e conference call
> the pg & e conference call just ended .
> * the company reaffirmed that all trade suppliers will be paid in the
> normal course of business . the company specifically mentioned that it
> intended to maintain and pay in full all of its bi - lateral contracts ,
> which includes a contract with calpine . the company also plans to
> maintain and assume its contracts with qualifying facilities and will pay
> in full all post petition obligations .
> * the company will also make all interest payments on its mortgage
> bonds , however , no principle payments will be made until a reorganization
> is finalized .
> * the company indicated that it had " adequate cash for a significant
> period of time " .
> * pg & e did not provide a time table for the reorganization .
> * the company reiterated that this is a financial and regulatory
> crisis , not an operational one .
> * the company will continue to work towards and believes that it will
> be reimbursed in full , and , under that scenario , all creditors would be
> paid .
jon kyle cartwright
vp & senior energy analyst
raymond james & associates
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? 2001 raymond james & associates , inc .