World's #1 Company for Original Stock Certificates & Old Stock Research Services Since 1880 - Rated A+ by Better Business Bureau

Historic Stocks and Bonds                                              
Quality Research Service Since 1880                                   


What our customers say:




 




Pacific Gas and Electric Company - California 1958  

Pacific Gas and Electric Company - California 1958

Product #: Pacific Gas and Electric Company

Normal Price: $59.95
Our Sales Price: $39.95

(You Save: 33%)

Qty:

PRODUCT DESCRIPTION  
Beautifully engraved $1,000 Bond certificate from the Pacific Gas and Electric Company dated 1958. This historic document was printed by the American Bank Note Company and has an ornate border around it with a vignette of 2 allegorical women with an antique tool between them. This item is hand signed by the Company's Officers and is over 46 years old. Punched cancelled in EF Condition.





Scripophily.com is a name you can TRUST!
Certificate Vignette



Pacific Gas and Electric Company is one of the largest combination natural gas and electric utilities in the United States. The company serves approximately 13 million people throughout a 70,000-square-mile service area in northern and central California.

Pacific Gas and Electric Company voluntarily filed for reorganization under Chapter 11 of the U.S. Bankruptcy Code on April 6, 2001. On June 19, 2003, federal Judge Randall Newsome announced the settlement agreement between PG&E and the CPUC’s staff. In December 2003, the CPUC approved the settlement agreement and the Bankruptcy Court confirmed the plan of reorganization.

FOR IMMEDIATE RELEASE April 12, 2004

CONTACT: PG&E News Department (415) 973-5930

PACIFIC GAS AND ELECTRIC COMPANY EMERGES FROM CHAPTER 11

Settlement Agreement Results in Significant Rate Reductions for Customers and Environmental Benefits for California

SAN FRANCISCO – Pacific Gas and Electric Company today emerged from the Chapter 11 process it initiated to resolve the financial challenges resulting from the California energy crisis. The resolution – supported by the company, its creditors, the California Public Utilities Commission (CPUC), labor, and environmental and consumer groups – restored the utility’s investment grade credit ratings, satisfied all valid creditor claims, and provided the basis for a substantial reduction in electric rates, with the potential for additional savings to customers in the future.

“Regaining our investment grade credit ratings, paying creditors in full, and doing so without raising customer rates achieves our objectives, and puts the energy crisis behind us,” said Robert D. Glynn, Jr., Chairman, CEO and President of PG&E Corporation.

The settlement agreement approved by the CPUC resolves Pacific Gas and Electric Company’s Chapter 11 case and provides many benefits for customers and the State of California, including:

A significant $800 million electric rate reduction for customers that was implemented in March. The company will continue to work with state and federal officials to pursue refunds from energy suppliers who charged excessive prices for gas and electricity during the energy crisis; and any refunds will go to further reduce customer rates.

Environmental benefits, such as the protection of 140,000 acres of sensitive watershed lands surrounding the company’s hydroelectric facilities, and the creation of a non-profit corporation to support research and investment in clean energy technology.

Restoration of the utility’s investment grade credit rating to allow the company to access the capital markets in order to finance the infrastructure improvements and long-term procurement of natural gas and electricity to meet customers’ growing demand. In 2004, the company will invest approximately $1.4 billion in its electric and natural gas systems. In addition, through an agreement reached with The Utility Reform Network, the company is working to obtain legislative approval to refinance a portion of its costs with a securitized dedicated rate component. If the refinancing is successful, customers could potentially save up to $1 billion in lower financing and tax costs over the term of the agreement.

“By emerging as a financially healthy company, we are on a solid foundation to continue investing in the infrastructure that delivers energy to our customers, and serves as the backbone of our state’s economy,” said Gordon R. Smith, Pacific Gas and Electric Company’s President and CEO. “We will also be able to re-engage with the communities we serve, and return to the traditional roles we played with them, which were temporarily interrupted by the challenges of the energy crisis.”

“By resolving these financial challenges in a collaborative manner, we are able to move forward on a sound financial basis in a more stable regulatory environment,” Glynn added.

As it emerged from Chapter 11, Pacific Gas and Electric Company made approximately 2,100 payments resolving $8.4 billion in allowed creditor claims, and deposited $1.8 billion in escrow accounts for disputed claims. The company used the proceeds from the approximately $6.7 billion bond offering, $2.4 billion in cash on hand, $0.8 billion funded by term loans, and $0.3 billion from a credit facility to pay creditors. In addition, approximately $814 million in pollution control bonds was reinstated, and the company paid about $93 million in preferred stock dividends and sinking fund payments that were in arrears.

Product #: Pacific Gas and Electric Company

Normal Price: $59.95
Our Sales Price: $39.95

(You Save: 33%)

Qty:
 

Scripophily.com and Old Company Research Press Releases

See Stock Certificate Expert Bob Kerstein, CEO Scripophily.com
discuss Stock Certificates in Bloomberg ,  the Associated Press ,
CNBC with Jane Wells discussing the Facebook IPO,
Inside Edition and the Today Show

Subscribe to our New Free RSS New Products Feed in a Reader

Subscribe to Our New Product Additions Feed by Email


We will always maintain our founding commitment to customer satisfaction and the delivery of an educational product with an enjoyable shopping experience.  Please let us know how we may be of service to you.



Scripophily has been
fully tested by
Norton Safe
Web

Bookmark and Share


Scripophily has been featured on CNN, CNBC, CBS, WSJ, Barrons, and many other fine publications
See Scripophily.com in the News at Scripophilynews.com


Note:
All Old Stock and Bond Certificates are actual authentic certificates and are sold only as collectibles. We do not sell reproductions and offer a lifetime guarantee to the authenticity of everything we sell.

All Rights Reserved. © 1996 - 2017

 
Scripophily.com is a name you can TRUST!
American Institute of
Certified Public Accountants

Scripophily.com is a name you can TRUST!
Virginia Society CPA's
Bob Kerstein, Member
Click to Verify Trust Certificate - Yahoo is a licensee of the TRUSTe� Privacy Seal Program



  Scripophily.com is a name you can TRUST!
American Numismatic Association

Securities and Exchange
Commission Historical Society


Society of Paper Money Collectors
Member
Scripophily.com - Gift of History -  BBB Membership Seal
Better Business
 Bureau Member
Rated A+