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Cautionary Language Regarding
Forward-Looking Statements
This presentation contains forward-looking statements regarding the anticipated outcome and timing
of various regulatory proceedings involving Pacific Gas and Electric Company (“Utility”), estimated
costs and future insurance recoveries associated with the natural gas explosion and fire that occurred
in a residential area of San Bruno, California on September 9, 2010 (“San Bruno Accident”), and
forecasts of equity financing for 2011. These statements are based on various assumptions and
management’s current knowledge of relevant facts. Actual results could differ materially based on
various factors, including:
– the outcome of the investigations of the San Bruno accident by the National Transportation Safety Board and the California
Public Utilities Commission (“CPUC”), the CPUC’s investigation into the Utility’s recordkeeping practices for the San Bruno
gas transmission pipeline that ruptured as well as for the Utility’s entire natural gas transmission system, the CPUC
investigation of the December 24, 2008 natural gas explosion in Rancho Cordova, California, whether the Utility incurs civil
or criminal penalties as a result of these investigations, the outcome of the CPUC’s proceeding to adopt new safety and
reliability regulations for natural gas transmission and distribution pipelines, whether the Utility is required to incur additional
costs for third-party liability claims associated with the San Bruno accident or to comply with regulatory or legislative
mandates which costs the Utility is unable to recover through rates or insurance, and whether the Utility incurs third-party
liabilities or other costs in connection with service disruptions that may occur as the Utility complies with regulatory orders to
decrease pressure in its natural gas transmission system;
– explosions, fires, accidents, mechanical breakdowns, the disruption of information technology and systems, human errors,
and similar events that may occur while operating and maintaining an electric and natural gas system in a large service
territory with varying geographic conditions that can cause unplanned outages, reduce generating output, damage the
Utility’s assets or operations, subject the Utility to third-party claims for property damage or personal injury, or result in the
imposition of civil, criminal, or regulatory fines or penalties on the Utility;
– the impact of storms, earthquakes, floods, drought, wildfires, disease, and similar natural disasters, or acts
of terrorism or vandalism, that affect customer demand or that damage or disrupt the facilities, operations, or
information technology and systems owned by the Utility, its customers, or third parties on which the Utility
relies;
– the extent to which PG&E Corporation or the Utility incurs costs in connection with third-party claims or
litigation, including those arising from the San Bruno accident, that are not recoverable through insurance,
rates, or from other third parties;
– the outcome of federal or state tax audits and the impact of changes in federal or state tax laws, policies, or
regulations, such as The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of
2010, and
– the other factors discussed in PG&E Corporation’s and the Utility’s annual report for the year ended
December 31, 2010 that has been filed with the Securities and Exchange Commission.
