Exhibit
99.2
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Corporate
Relations
One
Market, Spear Tower
Suite
2400
San
Francisco, CA 94105
1-800-743-6397
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NEWS
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December
19, 2007
WEBCAST
ALERT: PG&E CORPORATION ANNOUNCES CONFERENCE CALL WITH INVESTMENT
COMMUNITY
San
Francisco, December 19, 2007 / PR Newswire – FirstCall/ -- PG&E
Corporation (NYSE: PCG) will hold a conference call for members of the financial
community on December 21, 2007, at 8:30 a.m. PST / 11:30 a.m.
EST. Chairman, CEO, and President Peter Darbee and other members of
senior management will provide an update on the Corporation’s financial
outlook.
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·
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Reaffirm
2007 and 2008 guidance for EPS from operations.
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·
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Initiate
2009 guidance for EPS from operations.
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·
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Reaffirm
compound annual growth target for EPS from operations for 2007 through
2011.
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·
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Highlights
and conclusions from completion of annual planning process.
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When:
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Friday,
December 21, 2007 at 11:30 EST
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Where:
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http://www.pgecorp.com/investors/investor_info/conference/index.shtml
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How:
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Live
over the Internet – logon to the Web address above.
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Contact:
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Corporate
Relations 800-743-6397
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Investor
Relations 415-267-7080
If
you
are unable to participate during the live webcast, the call will be archived
at
http://www.pgecorp.com/investors/investor_info/conference/index.shtml
for one year.
PG&E
Corporation is an energy-based holding company headquartered in San Francisco, California. With assets
valued at $34 billion, its operations
include electric and gas distribution, natural gas and electric
transmission, and electric generation. It is the parent company of
Pacific Gas and Electric Company. For more information, visit the Web
site at http://www.pgecorp.com.
This
press release contains forward-looking statements regarding management’s
guidance for PG&E Corporation’s 2007, 2008, and 2009 earnings per share from
operations, and targeted compound annual growth rate for earnings per share
from
operations over the 2007-2011 outlook period. These statements are
based on current expectations and various assumptions which management believes
are reasonable, including, among others, that substantial capital investments
are made in Pacific Gas and Electric Company’s (Utility) business over the
2007-2011 period, the Utility earns at least its authorized rate of return
on
equity on rate base, and the Utility’s ratemaking capital structure is
maintained at 52 percent equity. These statements and assumptions are
necessarily subject to various risks and uncertainties, the realization or
resolution of which are outside of management's control. Actual results may
differ materially. Factors that could cause actual results to differ materially
include:
§ the
Utility’s
ability to timely recover costs through rates and manage capital and expense
costs within authorized levels;
§ the
outcome of
regulatory proceedings, including pending and future ratemaking proceedings
at
the California Public Utilities Commission (CPUC) and the Federal Energy
Regulatory Commission;
§ the
adequacy and
price of electricity and natural gas supplies, and the ability of the Utility
to
manage and respond to the volatility of the electricity and natural gas
markets;
§ the
effect of
weather, storms, earthquakes, fires, floods, disease, other natural disasters,
explosions, accidents, mechanical breakdowns, acts of terrorism, and other
events or hazards on the Utility’s facilities and operations, its customers, and
third parties on which the Utility relies;
§ the
potential
impacts of climate change on the Utility’s electricity and natural gas
businesses;
§ changes
in
customer demand for electricity and natural gas resulting from unanticipated
population growth or decline, general economic and financial market conditions,
changes in technology including the development of alternative energy sources,
or other reasons;
§ operating
performance of the Utility’s Diablo Canyon nuclear generating facilities (Diablo
Canyon), the occurrence of unplanned outages at Diablo Canyon, or the temporary
or permanent cessation of operations at Diablo Canyon;
§ the
ability of the
Utility to maintain the cost efficiencies it has recognized from the completed
initiatives to improve its business processes and customer service and the
ability of the Utility to identify and successfully implement additional
cost-efficiency measures;
§ whether
the
Utility’s planned capital investment projects are completed within authorized
cost amounts;
§ the
impact of
changes in federal or state laws, or their interpretation, on energy policy
and
the regulation of utilities and their holding companies;
§ the
impact of
changing wholesale electric or gas market rules, including the California
Independent System Operator’s new rules to restructure the California wholesale
electricity market;
§ how
the CPUC
administers the conditions imposed on PG&E Corporation when it became the
Utility’s holding company;
§ the
extent to
which PG&E Corporation or the Utility incur costs and liabilities in
connection with litigation that are not recoverable through rates, from third
parties, or through insurance recoveries;
§ the
ability of
PG&E Corporation and/or the Utility to access capital markets and other
sources of credit;
§ the
impact of
environmental laws and regulations and the costs of compliance and
remediation;
§ the
effect of
municipalization, direct access, community choice aggregation, or other forms
of
bypass; and
§ other
risks and
factors disclosed in PG&E Corporation’s and the Utility’s SEC
reports.
