PCG » Topics » Factors Affecting First Quarter 2005 Results of Operation and Financial Condition

This excerpt taken from the PCG 8-K filed Oct 28, 2005.

Factors Affecting First Quarter 2005 Results of Operation and Financial Condition

 

During the first quarter 2005, several factors had a significant impact on PG&E Corporation’s and the Utility’s results of operation and financial condition, including:

 

 

The issuance of approximately $1.9 billion of Energy Recovery Bonds, or ERBs, as described below;

 

 

 

 

Achievement of a 52% equity ratio on which the Utility is entitled to earn its authorized return;

 

 

 

 

The reinstatement of quarterly dividends, repayment of debt, and the repurchase of common stock; and

 

 

 

 

Upgraded credit ratings.

 

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