Puc President Issues Statement on Reliant Settlement

January 31, 2003

Media Contact: PUC Press Office, 415.703.1366,

PUC PRESIDENT ISSUES STATEMENT ON RELIANT SETTLEMENT

The California Public Utilities Commission (PUC) today issued the following statement by President Michael R. Peevey after the Federal Energy Regulatory Commission (FERC) approved a settlement in which Reliant Energy will pay $13.8 million for limiting the amount of power it offered to the California Power Exchange for delivery on June 21 and 22, 2000:

“FERC’s investigation determined that Reliant did not offer the amount of power it normally would have, and I am gratified that FERC has seen fit to return some funds to California. I hope they continue with that trend.”

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California Public Utilities Commission 12/12/02