Puget Sound Energy announces constructive settlement with industrial customers

Richard L. Hawley, PSE’s chief financial officer, said: “We built our power-supply portfolio around the premise that our large industrial customers would be supplied by the market, preserving the benefit of PSE’s resources for our core residential and commercial customers. We are gratified a solution is now in place that meets this fundamental business and financial objective while giving our industrial customers new options to better manage their energy requirements.”

SAN FRANCISCO, Calif., April 8, 2001 — Before the ailing California utility PG&E Company filed for Chapter 11 reorganization, it awarded bonuses and raises to about 6,000 senior managers and other employees.

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