<SUBMISSION>
<ACCESSION-NUMBER>0001004980-02-000016
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>2
<PERIOD>20020305
<ITEMS>5
<ITEMS>7
<FILING-DATE>20020305
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>PG&E CORP
<CIK>0001004980
<ASSIGNED-SIC>4931
<IRS-NUMBER>943234914
<STATE-OF-INCORPORATION>CA
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>001-12609
<FILM-NUMBER>02567625
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>ONE MARKET SPEAR TOWER
<STREET2>SUITE 2400
<CITY>SAN FRANCISCO
<STATE>CA
<ZIP>94105
<PHONE>4152677000
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>ONE MARKET SPEAR TOWER
<STREET2>SUITE 2400
<CITY>SAN FRANCISCO
<STATE>CA
<ZIP>94105
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>PG&E PARENT CO INC
<DATE-CHANGED>19951214
</FORMER-COMPANY>
</FILER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>final0305.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<html>
<head>
<title>PG&amp;E&rsquo;S GRC</title>
</head>
<body link="blue" vlink="purple">
<div>
<p align="center">SECURITIES AND EXCHANGE COMMISSION<br />
</p>

<p align="center">Washington, D.C.&nbsp; 20549<br />
<br />
</p>

<p align="center">FORM 8-K<br />
</p>

<p>CURRENT REPORT<br />
</p>

<p align="center">Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934<br />
</p>

<p align="center">Date of Report:&nbsp; March 5, 2002<br />
</p>

<table border="0" cellspacing="0" cellpadding="0" width="651">
<tr>
<td>
<p>&nbsp;</p>
</td>
<td valign="top">
<p align="center"><br />
 Commission<br />
 File<br />
 Number</p>
</td>
<td colspan="2" valign="top">
<p align="center">Exact Name of<br />
 Registrant<br />
 as specified in<br />
 its charter</p>
</td>
<td colspan="2" valign="top">
<p align="center"><br />
 State or other<br />
 Jurisdiction of<br />
 Incorporation</p>
</td>
<td colspan="2" valign="top">
<p align="center"><br />
 IRS Employer<br />
 &nbsp; Identification<br />
 Number</p>
</td>
</tr>

<tr>
<td>
<p>&nbsp;</p>
</td>
<td valign="top">
<p align="center">_____________</p>
</td>
<td colspan="2" valign="top">
<p align="center">_____________</p>
</td>
<td colspan="2" valign="top">
<p align="center">_____________</p>
</td>
<td colspan="2" valign="top">
<p align="center">_____________</p>
</td>
</tr>

<tr>
<td>
<p>&nbsp;</p>
</td>
<td valign="top">
<p align="center">1-12609</p>

<p align="center">1-2348</p>
</td>
<td colspan="2" valign="top">
<p align="center">PG&amp;E Corporation</p>

<p align="center">Pacific Gas and<br />
 Electric Company</p>
</td>
<td colspan="2" valign="top">
<p align="center">California</p>

<p align="center">California</p>
</td>
<td colspan="2" valign="top">
<p align="center">94-3234914</p>

<p align="center">94-0742640</p>

<p align="center"><br />
 </p>
</td>
</tr>

<tr>
<td colspan="3" valign="top">
<p align="center">Pacific Gas and Electric Company<br />
 77 Beale Street, P. O. Box 770000<br />
 San Francisco, California&nbsp;&nbsp;94177</p>
</td>
<td colspan="2" valign="top">
<p align="center">&nbsp;&nbsp;&nbsp;</p>
</td>
<td colspan="2" valign="top">
<p align="center">PG&amp;E Corporation<br />
 One Market, Spear Tower, Suite 2400<br />
 San Francisco, California&nbsp;&nbsp;94105</p>
</td>
<td>
<p>&nbsp;</p>
</td>
</tr>
</table>

<p>(Address of principal executive offices) (Zip Code)</p>

<table border="0" cellspacing="0" cellpadding="0" width="643">
<tr>
<td valign="top">
<p align="center">Pacific Gas and Electric Company<br />
 (415) 973-7000</p>
</td>
<td valign="top">
<p align="center">&nbsp;&nbsp;&nbsp;</p>
</td>
<td valign="top">
<p align="center">PG&amp;E Corporation<br />
 (415) 267-7000</p>
</td>
</tr>
</table>

<p>(Registrant's telephone number, including area code)</p>

<div></div>

<p>Item 5. Other Events<br />
</p>

<p>Pacific Gas and Electric Company Bankruptcy<br />
</p>

<p>On March 4, 2002, the Utility filed its monthly operating report
for the month ended January 31, 2002, with the Bankruptcy Court.
The Utility's monthly operating report includes an unaudited income
statement for the month and an unaudited balance sheet dated as of
the end of the month. These unaudited financial statements are
attached as Exhibit 99 to this report. Although not included in
Exhibit 99, the monthly operating report also includes a statement
of receipts and disbursements, as well as other information. The
preliminary financial statements were prepared using certain
assumptions and estimates that are subject to revision. Any
adjustments for these estimates (based upon changes in facts and
circumstances, further analysis, and other factors) will be
reflected in the financial statements in the period during which
such adjustments are made. These adjustments could have a material
impact on reported results in the future.<br />
</p>

<p>Item 7. Financial Statements, Pro Forma Financial Information,
and Exhibits<br />
</p>

<p>Exhibit 99 - Pacific Gas and Electric Company Income Statement
for the month ended January 31, 2002, and Balance Sheet dated
January 31, 2002.</p>

<div></div>

<p><br />
</p>

<table border="0" cellspacing="0" cellpadding="0">
<tr>
<td valign="top">
<p>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p>
</td>
<td valign="top">
<p>SIGNATURE</p>
</td>
</tr>
</table>

<p>Pursuant to the requirements of the Securities Exchange Act of
1934, the registrants have duly caused this report to be signed on
their behalf by the undersigned thereunto duly authorized.</p>

<table border="0" cellspacing="0" cellpadding="0" width="649">
<tr>
<td valign="top">
<p>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p>
</td>
<td valign="top">
<p>PG&amp;E CORPORATION</p>
</td>
</tr>

<tr>
<td valign="top">
<p>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p>
</td>
<td valign="top">
<p>By:&nbsp;&nbsp;CHRISTOPHER P. JOHNS</p>
</td>
</tr>

<tr>
<td valign="top">
<p>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p>
</td>
<td valign="top">
<p>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></p>
</td>
</tr>

<tr>
<td valign="top">
<p>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p>
</td>
<td valign="top">
<p>&nbsp;&nbsp;&nbsp;&nbsp; &nbsp; CHRISTOPHER P. JOHNS<br />
 &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;Senior Vice President and
Controller</p>
</td>
</tr>

<tr>
<td valign="top"></td>
<td valign="top"></td>
</tr>

<tr>
<td valign="top">
<p>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p>
</td>
<td valign="top">
<p>PACIFIC GAS AND ELECTRIC COMPANY</p>
</td>
</tr>

<tr>
<td valign="top">
<p>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p>
</td>
<td valign="top">
<p>By:&nbsp;&nbsp;KENT M. HARVEY</p>
</td>
</tr>

<tr>
<td valign="top">
<p>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p>
</td>
<td valign="top">
<p>&nbsp;&nbsp; &nbsp; <u>&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></p>
</td>
</tr>

<tr>
<td valign="top">
<p>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p>
</td>
<td valign="top">
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KENT M. HARVEY<br />
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Senior Vice President, Chief
Financial Officer, and Treasurer</p>
</td>
</tr>
</table>

<p>Dated:&nbsp; March 5, 2002</p>
</div>
</body>
</html>


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>3
<FILENAME>exhibit99.htm
<DESCRIPTION>FINANCIAL STATEMENTS
<TEXT>
<html>
<head>
<title>PACIFIC GAS AND ELECTRIC COMPANY</title>
</head>
<body>
<div>
<h4>Exhibit 99</h4>

<p></p>

<table border="0" cellspacing="0" cellpadding="0" width="579">
<tr>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
</tr>

<tr>
<td nowrap valign="bottom">
<p align="center"><b>U.S. TRUSTEE BALANCE SHEET</b></p>
</td>
<td nowrap valign="bottom"></td>
</tr>

<tr>
<td nowrap valign="bottom">
<p align="center"><b>AS OF JANUARY 31, 2002</b></p>
</td>
<td nowrap valign="bottom"></td>
</tr>

<tr>
<td nowrap valign="bottom">
<p align="center"><b>(in millions, except share amounts)</b></p>
</td>
<td nowrap valign="bottom"></td>
</tr>

<tr>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
</tr>

<tr>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom">
<p align="right"><b>January, 2002</b></p>
</td>
</tr>

<tr>
<td nowrap valign="bottom">
<p><b>ASSETS</b></p>
</td>
<td nowrap valign="bottom"></td>
</tr>

<tr>
<td nowrap valign="bottom">
<p><b>Current Assets</b></p>
</td>
<td nowrap valign="bottom"></td>
</tr>

<tr>
<td nowrap valign="bottom">
<p>Cash and cash equivalents</p>
</td>
<td nowrap valign="bottom">
<p align="right">&nbsp;
$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
4,548</p>
</td>
</tr>

<tr>
<td nowrap valign="bottom">
<p>Accounts receivable:</p>
</td>
<td nowrap valign="bottom"></td>
</tr>

<tr>
<td valign="bottom">
<p>Customers (net of allowance for doubtful accounts of $48
million)</p>
</td>
<td nowrap valign="bottom">
<p align="right">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
1,924</p>
</td>
</tr>

<tr>
<td valign="bottom">
<p>Related parties</p>
</td>
<td nowrap valign="bottom">
<p align="right">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
33</p>
</td>
</tr>

<tr>
<td nowrap valign="bottom">
<p>Regulatory balancing accounts</p>
</td>
<td nowrap valign="bottom">
<p align="right">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
61</p>
</td>
</tr>

<tr>
<td nowrap valign="bottom">
<p>Inventories:</p>
</td>
<td nowrap valign="bottom"></td>
</tr>

<tr>
<td nowrap valign="bottom">
<p>Gas stored underground and fuel oil</p>
</td>
<td nowrap valign="bottom">
<p align="right">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
124</p>
</td>
</tr>

<tr>
<td nowrap valign="bottom">
<p>Materials and supplies</p>
</td>
<td nowrap valign="bottom">
<p align="right">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
119</p>
</td>
</tr>

<tr>
<td nowrap valign="bottom">
<p>Prepaid expenses and other</p>
</td>
<td nowrap valign="bottom">
<p align="right">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
98</p>
</td>
</tr>

<tr>
<td nowrap valign="bottom">
<p><b>Total current assets</b></p>
</td>
<td nowrap valign="bottom">
<p align="right"><b>6,907</b></p>
</td>
</tr>

<tr>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
</tr>

<tr>
<td nowrap valign="bottom">
<p><b>Property, Plant, and Equipment</b></p>
</td>
<td nowrap valign="bottom"></td>
</tr>

<tr>
<td nowrap valign="bottom">
<p>Electric</p>
</td>
<td nowrap valign="bottom">
<p align="right">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
18,305</p>
</td>
</tr>

<tr>
<td nowrap valign="bottom">
<p>Gas</p>
</td>
<td nowrap valign="bottom">
<p align="right">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
7,807</p>
</td>
</tr>

<tr>
<td nowrap valign="bottom">
<p>Construction work in progress</p>
</td>
<td nowrap valign="bottom">
<p align="right">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
325</p>
</td>
</tr>

<tr>
<td nowrap valign="bottom">
<p><b>Total property, plant, and equipment (at original
cost)</b></p>
</td>
<td nowrap valign="bottom">
<p align="right">
<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
26,437</b></p>
</td>
</tr>

<tr>
<td nowrap valign="bottom">
<p>Accumulated depreciation and decommissioning</p>
</td>
<td nowrap valign="bottom">
<p align="right">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(13,004)</p>
</td>
</tr>

<tr>
<td nowrap valign="bottom">
<p><b>Net property, plant, and equipment</b></p>
</td>
<td nowrap valign="bottom">
<p align="right">
<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
13,433</b></p>
</td>
</tr>

<tr>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
</tr>

<tr>
<td nowrap valign="bottom">
<p><b>Other Noncurrent Assets</b></p>
</td>
<td nowrap valign="bottom"></td>
</tr>

<tr>
<td nowrap valign="bottom">
<p>Regulatory assets</p>
</td>
<td nowrap valign="bottom">
<p align="right">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
2,335</p>
</td>
</tr>

<tr>
<td nowrap valign="bottom">
<p>Nuclear decommissioning trust funds</p>
</td>
<td nowrap valign="bottom">
<p align="right">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
1,335</p>
</td>
</tr>

<tr>
<td nowrap valign="bottom">
<p>Other</p>
</td>
<td nowrap valign="bottom">
<p align="right">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
1,822</p>
</td>
</tr>

<tr>
<td nowrap valign="bottom">
<p><b>Total noncurrent assets</b></p>
</td>
<td nowrap valign="bottom">
<p align="right">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
5,492</p>
</td>
</tr>

<tr>
<td nowrap valign="bottom">
<p><b>TOTAL ASSETS</b></p>
</td>
<td nowrap valign="bottom">
<p align="right"><b>&nbsp;
$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
25,832</b></p>
</td>
</tr>

<tr>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
</tr>

<tr>
<td nowrap valign="bottom">
<p><b>LIABILITIES AND EQUITY</b></p>
</td>
<td nowrap valign="bottom"></td>
</tr>

<tr>
<td nowrap valign="bottom">
<p><b>Liabilities</b></p>
</td>
<td nowrap valign="bottom"></td>
</tr>

<tr>
<td nowrap valign="bottom">
<p>Accounts payable</p>
</td>
<td nowrap valign="bottom">
<p align="right">&nbsp;&nbsp;</p>
</td>
</tr>

<tr>
<td nowrap valign="bottom">
<p>Trade creditors</p>
</td>
<td nowrap valign="bottom">
<p align="right">&nbsp;
$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
221</p>
</td>
</tr>

<tr>
<td nowrap valign="bottom">
<p>Related parties</p>
</td>
<td nowrap valign="bottom">
<p align="right">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
116</p>
</td>
</tr>

<tr>
<td nowrap valign="bottom">
<p>Regulatory Balancing Accounts</p>
</td>
<td nowrap valign="bottom">
<p align="right">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
325</p>
</td>
</tr>

<tr>
<td nowrap valign="bottom">
<p>Other</p>
</td>
<td nowrap valign="bottom">
<p align="right">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
205</p>
</td>
</tr>

<tr>
<td nowrap valign="bottom">
<p>&nbsp;&nbsp; Accrued taxes</p>
</td>
<td nowrap valign="bottom">
<p align="right">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
469</p>
</td>
</tr>

<tr>
<td nowrap valign="bottom">
<p>Rate reduction bonds</p>
</td>
<td nowrap valign="bottom">
<p align="right">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
1,707</p>
</td>
</tr>

<tr>
<td nowrap valign="bottom">
<p>Deferred income taxes</p>
</td>
<td nowrap valign="bottom">
<p align="right">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
1,031</p>
</td>
</tr>

<tr>
<td nowrap valign="bottom">
<p>Deferred tax credits</p>
</td>
<td nowrap valign="bottom">
<p align="right">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
153</p>
</td>
</tr>

<tr>
<td nowrap valign="bottom">
<p>Pre-petition secured debt</p>
</td>
<td nowrap valign="bottom">
<p align="right">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
3,391</p>
</td>
</tr>

<tr>
<td nowrap valign="bottom">
<p>Pre-petition liabilities</p>
</td>
<td nowrap valign="bottom">
<p align="right">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5,699</p>
</td>
</tr>

<tr>
<td nowrap valign="bottom">
<p>Pre-petition financing debt</p>
</td>
<td nowrap valign="bottom">
<p align="right">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
5,992</p>
</td>
</tr>

<tr>
<td nowrap valign="bottom">
<p>Other liabilities</p>
</td>
<td nowrap valign="bottom">
<p align="right">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
3,372</p>
</td>
</tr>

<tr>
<td nowrap valign="bottom">
<p><b>Total liabilities</b></p>
</td>
<td nowrap valign="bottom">
<p align="right">
<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
22,681</b></p>
</td>
</tr>

<tr>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
</tr>

<tr>
<td nowrap valign="bottom">
<p><b>Preferred Stock With Mandatory Redemption Provisions</b></p>
</td>
<td nowrap valign="bottom">
<p align="right">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
137</p>
</td>
</tr>

<tr>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
</tr>

<tr>
<td nowrap valign="bottom">
<p><b>Stockholders' Equity</b></p>
</td>
<td nowrap valign="bottom"></td>
</tr>

<tr>
<td nowrap valign="bottom">
<p>Preferred stock without mandatory redemption provisions</p>
</td>
<td nowrap valign="bottom"></td>
</tr>

<tr>
<td nowrap valign="bottom">
<p>Nonredeemable--5% to 6%, outstanding 5,784,825 shares</p>
</td>
<td nowrap valign="bottom">
<p align="right">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
145</p>
</td>
</tr>

<tr>
<td nowrap valign="bottom">
<p>Redeemable--4.36% to 7.04%, outstanding 5,973,456 shares</p>
</td>
<td nowrap valign="bottom">
<p align="right">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
149</p>
</td>
</tr>

<tr>
<td nowrap valign="bottom">
<p>Common stock, $5 par value, authorized 800,000,000 shares;</p>
</td>
<td nowrap valign="bottom"></td>
</tr>

<tr>
<td nowrap valign="bottom">
<p>issued 321,314,760 shares</p>
</td>
<td nowrap valign="bottom">
<p align="right">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
1,606</p>
</td>
</tr>

<tr>
<td nowrap valign="bottom">
<p>Additional paid in capital</p>
</td>
<td nowrap valign="bottom">
<p align="right">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
1,964</p>
</td>
</tr>

<tr>
<td nowrap valign="bottom">
<p>Accumulated deficit</p>
</td>
<td nowrap valign="bottom">
<p align="right">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(848)</p>
</td>
</tr>

<tr>
<td nowrap valign="bottom">
<p>Accumulated other comprehensive loss</p>
</td>
<td nowrap valign="bottom">
<p align="right">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(2)</p>
</td>
</tr>

<tr>
<td nowrap valign="bottom">
<p><b>Total stockholders' equity</b></p>
</td>
<td nowrap valign="bottom">
<p align="right"><b>3,014&nbsp;</b></p>
</td>
</tr>

<tr>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
</tr>

<tr>
<td nowrap valign="bottom">
<p><b>TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY</b></p>
</td>
<td nowrap valign="bottom">
<p align="right"><b>&nbsp;
$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
25,832</b></p>
</td>
</tr>
</table>

<p align="center"></p>

<br clear="all" />
 </div>

<b><br clear="all" />
</b>

<div>
<table border="0" cellspacing="0" cellpadding="0" width="547">
<tr>
<td nowrap colspan="8" valign="bottom">
<h1>PACIFIC GAS AND ELECTRIC COMPANY</h1>
</td>
</tr>

<tr>
<td nowrap colspan="8" valign="bottom">
<p align="center"><b>U.S. TRUSTEE BALANCE SHEET</b></p>
</td>
</tr>

<tr>
<td nowrap colspan="8" valign="bottom">
<p align="center"><b>AS OF JANUARY 31, 2002</b></p>
</td>
</tr>

<tr>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
</tr>

<tr>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
</tr>

<tr>
<td nowrap colspan="2" valign="bottom">
<h3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes</h3>
</td>
<td nowrap valign="bottom">
<p>&nbsp;</p>
</td>
<td nowrap valign="bottom">
<p>&nbsp;</p>
</td>
<td nowrap valign="bottom">
<p>&nbsp;</p>
</td>
<td nowrap valign="bottom">
<p>&nbsp;</p>
</td>
<td nowrap valign="bottom">
<p>&nbsp;</p>
</td>
<td nowrap valign="bottom">
<p>&nbsp;</p>
</td>
</tr>

<tr>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
</tr>

<tr>
<td nowrap valign="bottom">
<p align="center">1</p>
</td>
<td nowrap colspan="7" valign="bottom">
<p>These unaudited financial statements were prepared using certain
assumptions</p>
</td>
</tr>

<tr>
<td nowrap valign="bottom"></td>
<td nowrap colspan="7" valign="bottom">
<p>and estimates.&nbsp; These assumptions and estimates are subject
to revision and</p>
</td>
</tr>

<tr>
<td nowrap valign="bottom"></td>
<td nowrap colspan="7" valign="bottom">
<p>actual results could differ materially from the information
provided in this statement.</p>
</td>
</tr>

<tr>
<td nowrap valign="bottom"></td>
<td nowrap colspan="7" valign="bottom">
<p>Further, the amounts shown in this statement, when reported on a
quarterly</p>
</td>
</tr>

<tr>
<td nowrap valign="bottom"></td>
<td nowrap colspan="7" valign="bottom">
<p>basis, may differ materially due to adjustments in accruals,
changes in facts and</p>
</td>
</tr>

<tr>
<td nowrap valign="bottom"></td>
<td nowrap colspan="6" valign="bottom">
<p>circumstances, changes in estimates, further analysis, and other
factors.</p>
</td>
<td nowrap valign="bottom"></td>
</tr>

<tr>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
</tr>

<tr>
<td nowrap valign="bottom">
<p align="center">2</p>
</td>
<td nowrap colspan="7" valign="bottom">
<p>These unaudited financial statements are prepared for the U.S.
Trustee and differ from</p>
</td>
</tr>

<tr>
<td nowrap valign="bottom"></td>
<td nowrap colspan="7" valign="bottom">
<p>the requirements of generally accepted accounting principles in
that they exclude</p>
</td>
</tr>

<tr>
<td nowrap valign="bottom"></td>
<td nowrap colspan="7" valign="bottom">
<p>certain financial statements (statements of cash flows,
stockholders equity, and</p>
</td>
</tr>

<tr>
<td nowrap valign="bottom"></td>
<td nowrap colspan="7" valign="bottom">
<p>other comprehensive income), relevant footnotes and certain
reclassifications.</p>
</td>
</tr>

<tr>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
</tr>

<tr>
<td nowrap valign="bottom">
<p align="center">3</p>
</td>
<td nowrap colspan="7" valign="bottom">
<p>Cash and cash equivalents have been reduced for uncleared
checks.&nbsp; On the</p>
</td>
</tr>

<tr>
<td nowrap valign="bottom"></td>
<td nowrap colspan="7" valign="bottom">
<p>balance sheet included with the Utility's Annual Report, Form
10-K and 10-Q,</p>
</td>
</tr>

<tr>
<td nowrap valign="bottom"></td>
<td nowrap colspan="5" valign="bottom">
<p>uncleared checks are treated as an accounts payable
liability.</p>
</td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
</tr>
</table>
</div>

<br clear="all" />


<div>
<p></p>

<table border="0" cellspacing="0" cellpadding="0" width="661">
<tr>
<td nowrap colspan="4" valign="bottom">
<h2>PACIFIC GAS AND ELECTRIC COMPANY</h2>

<h2>U.S. TRUSTEE INCOME STATEMENT</h2>

<p align="center"><b>FOR THE MONTH ENDED JANUARY 31, 2002</b></p>

<p align="center"><b>AND THE TEN MONTHS ENDED JANUARY 31,
2002</b></p>

<p align="center"><b>(in millions)<br />
 </b></p>
</td>
</tr>

<tr>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom">
<h1>Case to date</h1>
</td>
</tr>

<tr>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom">
<p align="center"><b>&nbsp; Month</b></p>
</td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom">
<p align="center"><b>ten months</b></p>
</td>
</tr>

<tr>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom">
<p align="center"><b>&nbsp; ended</b></p>
</td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom">
<p align="center"><b>ended</b></p>
</td>
</tr>

<tr>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom">
<p align="center"><b>January 31, 2002</b></p>
</td>
<td valign="bottom"></td>
<td nowrap valign="bottom">
<p align="center"><b>January 31, 2002</b></p>
</td>
</tr>

<tr>
<td nowrap valign="bottom">
<p>OPERATING REVENUES</p>
</td>
<td nowrap valign="bottom">
<p>&nbsp;
$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
938</p>
</td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom">
<p>&nbsp;
$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
8,838</p>
</td>
</tr>

<tr>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
</tr>

<tr>
<td nowrap valign="bottom">
<p>OPERATING EXPENSES:</p>
</td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
</tr>

<tr>
<td nowrap valign="bottom">
<p>Cost of Electric Energy</p>
</td>
<td nowrap valign="bottom">
<p>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
152</p>
</td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom">
<p>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 609</p>
</td>
</tr>

<tr>
<td nowrap valign="bottom">
<p>Cost of Gas</p>
</td>
<td nowrap valign="bottom">
<p>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
150</p>
</td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom">
<p>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
1,096</p>
</td>
</tr>

<tr>
<td nowrap valign="bottom">
<p>Operating and Maintenance</p>
</td>
<td nowrap valign="bottom">
<p>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
230</p>
</td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom">
<p>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
2,141</p>
</td>
</tr>

<tr>
<td nowrap valign="bottom">
<p>Depreciation, Decommissioning, and Amortization</p>
</td>
<td nowrap valign="bottom">
<p>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp; 74</p>
</td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom">
<p>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
752</p>
</td>
</tr>

<tr>
<td nowrap valign="bottom">
<p>Total Operating Expenses</p>
</td>
<td nowrap valign="bottom">
<p>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
606</p>
</td>
<td nowrap valign="bottom">
<p>&nbsp;</p>
</td>
<td nowrap valign="bottom">
<p>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
4,598</p>
</td>
</tr>

<tr>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
</tr>

<tr>
<td nowrap valign="bottom">
<p>OPERATING INCOME (LOSS)</p>
</td>
<td nowrap valign="bottom">
<p>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
332</p>
</td>
<td nowrap valign="bottom">
<p>&nbsp;</p>
</td>
<td nowrap valign="bottom">
<p>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
4,240</p>
</td>
</tr>

<tr>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
</tr>

<tr>
<td nowrap valign="bottom">
<p>Interest Income (Expense)</p>
</td>
<td nowrap valign="bottom">
<p>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(73)</p>
</td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom">
<p>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(730)</p>
</td>
</tr>

<tr>
<td nowrap valign="bottom">
<p>Professional Fees</p>
</td>
<td nowrap valign="bottom">
<p>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(1)</p>
</td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom">
<p>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(12)</p>
</td>
</tr>

<tr>
<td nowrap valign="bottom">
<p>Other Income and (Expense)</p>
</td>
<td nowrap valign="bottom">
<p>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
1</p>
</td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom">
<p>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(9)</p>
</td>
</tr>

<tr>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
</tr>

<tr>
<td nowrap valign="bottom">
<p>PRE-TAX INCOME (LOSS)</p>
</td>
<td nowrap valign="bottom">
<p>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
259</p>
</td>
<td nowrap valign="bottom">
<p>&nbsp;</p>
</td>
<td nowrap valign="bottom">
<p>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
3,489</p>
</td>
</tr>

<tr>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
</tr>

<tr>
<td nowrap valign="bottom">
<p>Income Taxes</p>
</td>
<td nowrap valign="bottom">
<p>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
102</p>
</td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom">
<p>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
1,322</p>
</td>
</tr>

<tr>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
</tr>

<tr>
<td nowrap valign="bottom">
<p>EARNINGS (LOSS)</p>
</td>
<td nowrap valign="bottom">
<p>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
157</p>
</td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom">
<p>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
2,167</p>
</td>
</tr>

<tr>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
</tr>

<tr>
<td nowrap valign="bottom">
<p>Preferred Dividend Requirement</p>
</td>
<td nowrap valign="bottom">
<p>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
2</p>
</td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom">
<p>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
21</p>
</td>
</tr>

<tr>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
</tr>

<tr>
<td nowrap valign="bottom">
<p>EARNINGS (LOSS) AVAILABLE FOR (ALLOCATED TO) COMMON STOCK</p>
</td>
<td nowrap valign="bottom">
<p>&nbsp;
$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
155</p>
</td>
<td nowrap valign="bottom">
<p>&nbsp;</p>
</td>
<td nowrap valign="bottom">
<p>&nbsp;
$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
2,146</p>
</td>
</tr>
</table>

<p></p>

<br clear="all" />


<p></p>

<table border="0" cellspacing="0" cellpadding="0" width="648">
<tr>
<td nowrap colspan="12" valign="bottom">
<p align="center"><b>PACIFIC GAS AND ELECTRIC COMPANY</b></p>
</td>
</tr>

<tr>
<td nowrap colspan="12" valign="bottom">
<p align="center"><b>U.S. TRUSTEE INCOME STATEMENT</b></p>
</td>
</tr>

<tr>
<td nowrap colspan="12" valign="bottom">
<p align="center"><b>FOR THE MONTH ENDED JANUARY 31, 2002</b></p>
</td>
</tr>

<tr>
<td nowrap colspan="12" valign="bottom">
<p align="center"><b>AND THE TEN MONTHS ENDED JANUARY 31,
2002</b></p>
</td>
</tr>

<tr>
<td nowrap valign="bottom"></td>
<td nowrap colspan="2" valign="bottom"></td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
<td nowrap valign="bottom"></td>
<td colspan="2">
<p>&nbsp;</p>
</td>
</tr>

<tr>
<td nowrap colspan="12" valign="bottom">
<h3>&nbsp;&nbsp;Notes&nbsp;<br />
 </h3>
</td>
</tr>

<tr>
<td nowrap colspan="2" valign="bottom">
<p align="center">1<br />
<br />
<br />
<br />
<br />
 </p>
</td>
<td nowrap colspan="9" valign="bottom">
<p>These unaudited financial statements were prepared using certain
assumptions and estimates.&nbsp; These assumptions and estimates
are subject to revision and actual results could differ materially
from the information provided in this statement.&nbsp; Further, the
amounts shown in this statement, when reported on a quarterly
basis, may differ materially due to adjustments in accruals,
changes in facts and circumstances, changes in estimates, further
analysis, and other factors.<br />
 </p>
</td>
<td>
<p>&nbsp;</p>
</td>
</tr>

<tr>
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<p align="center">2<br />
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 </p>
</td>
<td nowrap colspan="9" valign="bottom">
<p>These unaudited financial statements are prepared for the U.S.
Trustee and differ from the requirements of generally accepted
accounting principles in that they exclude certain financial
statements (statements of cash flows, stockholders equity, and
other comprehensive income), relevant footnotes and certain
reclassifications.<br />
 </p>
</td>
<td colspan="2">
<p>&nbsp;</p>
</td>
</tr>

<tr>
<td nowrap valign="bottom">
<p align="center">3<br />
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 </p>
</td>
<td nowrap colspan="11" valign="bottom">
<p>These unaudited financial statements were prepared using certain
assumptions and estimates, including the estimated amount payable
to the California Department of Water Resources (DWR) for the
estimated amount of power purchased by the DWR on behalf of retail
customers based on approximately 10 cents per kilowatt hour
(kWh).&nbsp; The Utility acts solely as a billing agent for the
DWR.&nbsp; While the rate freeze is in effect, to the extent
revenue is allocable to the DWR, there will be a corresponding
reduction in the Utility's revenues.&nbsp; Therefore, the amounts
paid to the DWR for deliveries are not recorded as expense and the
revenue billed by the Utility to its customers associated with this
energy is excluded from revenues.&nbsp; These assumptions and
estimates are subject to revision and actual results could differ
materially from the information provided in this
statement.&nbsp;<br />
 </p>

<p>The results for the month of January 2002 are not indicative of
future earnings.&nbsp; While the rate freeze is in effect, earnings
could differ materially as a result of the implementation of the
DWR's revenue requirement.&nbsp; On February 21, 2002, the CPUC
approved a final decision establishing a total statewide revenue
requirement for the DWR for the two-year period ending December 31,
2002, of $9 billion, representing total DWR expected expenditures
of $18 billion less anticipated proceeds from its external
financings of $9 billion.&nbsp; In this decision, the CPUC
determined that the $9 billion revenue requirement would be
allocated among the three California investor-owned utilities based
on designated per-kWh charges. Specifically, the decision orders
that the Utility's share of the total $9 billion revenue
requirement is $4.5 billion (for the period from January 2001
through December 2002).&nbsp;<br />
 </p>

<p>The Utility is required to pass through the commensurate amount
of revenues to the DWR.&nbsp; The Utility currently has accrued
payables to the ISO for costs that it believes are included in the
DWR's revenue requirement.&nbsp; The Utility believes that any
additional amount of revenues to be passed through to the DWR as a
result of the approval of the revenue requirement would not exceed
the amount of ISO payables currently recorded.&nbsp;<br />
 </p>

<p>In addition, the decision also requires the Utility to submit,
over a 6 month period, the shortfall in DWR remittances from
January 17, 2001, through March 15, 2002, resulting from the rates
approved in the order less the amounts already submitted to
DWR.<br />
 </p>
</td>
</tr>

<tr>
<td nowrap valign="bottom">
<p align="center">4<br />
 </p>
</td>
<td nowrap colspan="9" valign="bottom">
<p>Case to date results reflect the entire ten month period ended
January 31, 2002.&nbsp; The bankruptcy petition date is April 6,
2001.</p>
</td>
<td colspan="2">
<p>&nbsp;</p>
</td>
</tr>
</table>
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</SUBMISSION>
