Pacific Gas & Electric Co.: Net income...
From Times Staff and Wire Reports
Pacific Gas & Electric Co.: Net income for fiscal 1989 was $901 million, compared to $62 million in 1988. The San Francisco-based firm said 1988 profit was depressed primarily by writeoffs resulting from the Diablo Canyon Nuclear Power Plant rate case settlement. Revenue increased 13% to $8.6 billion, primarily due to the performance of the Diablo Canyon plant since the settlement, which adopted alternative rate making.
