This excerpt taken from the PCG 8-K filed May 4, 2005.
Conference Call with the Financial Community to Discuss First Quarter Results:
This press release and the attachment contain forward-looking statements regarding 2005 and 2006 guidance for earnings from operations per common share for PG&E Corporation that are based on current expectations and assumptions which management believes are reasonable and on information currently available to management. These statements are necessarily subject to various risks and uncertainties. In addition to the risk that the assumptions on which the statements are based (including that Pacific Gas and Electric Company (Utility) earns an authorized return on equity of 11.22 percent, the second series of energy recovery bonds is issued in November 2005, and that the Utility makes certain capital expenditures) prove to be inaccurate, factors that could cause actual results to differ materially from those contemplated by the forward-looking statements include: