This excerpt taken from the PCG 8-K filed May 4, 2005.
1 The range of potential outcomes is developed using a range of dollar estimates and a range of estimated shares outstanding for the items presented.
2 The net expense, after tax, related to remaining generator disputed claims in the Utility's Chapter 11 proceeding, which are subject to resolution in the bankruptcy court.
Management's statements regarding 2005 and 2006 guidance for earnings from operations per share for PG&E Corporation constitute forward looking statements that are based on current expectations and assumptions which management believes are reasonable. 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 the Utility earns an authorized return on equity of 11.22%, that the second series of energy recovery bonds is issued in late 2005, and that the Utility makes certain capital expenditures) prove to be inaccurate, many factors could cause actual results to differ materially from those contemplated by the forward-looking statements. These factors are noted in PG&E Corporation's and Pacific Gas and Electric Company's Current Report on Form 8-K dated May 4, 2005 and are discussed in their combined Annual Report on Form 10-K for the year ended December 31, 2004 and their Quarterly Report on Form 10-Q for the quarter ended March 31, 2005.