Exhibit 99
PACIFIC GAS AND ELECTRIC COMPANY
U.S. TRUSTEE BALANCE SHEET
AS OF MAY 31, 2002
(in millions, except share amounts)
			May, 2002
ASSETS
Current Assets
	Cash and cash equivalents		$                4,214
	Accounts receivable:
		Customers (net of allowance for doubtful accounts of $51 million)	1,649
		Related parties	31
		Regulatory balancing accounts	111
	Inventories:
		Gas stored underground and fuel oil	157
		Materials and supplies	117
	Prepaid expenses and other		80
	Total current assets		6,359
Property, Plant, and Equipment
	Electric		18,528
	Gas		7,926
	Construction work in progress		369
	Total property, plant, and equipment (at original cost)		26,823
	Accumulated depreciation and decommissioning		(13,258)
Net property, plant, and equipment			13,565
Other Noncurrent Assets
	Regulatory assets		2,176
	Nuclear decommissioning trust funds		1,339
	Other		1,830
	Total noncurrent assets		5,345
TOTAL ASSETS			$             25,269
LIABILITIES AND EQUITY
Liabilities
	Accounts payable
		Trade creditors	$                  573
		Related parties	89
		Regulatory Balancing Accounts	287
		Other	236
	Accrued taxes		1,017
	Rate reduction bonds		1,614
	Deferred income taxes		982
	Deferred tax credits		149
	Pre-petition secured debt		3,125
	Pre-petition liabilities		4,265
	Pre-petition financing debt		5,712
	Other liabilities		3,354
	Total liabilities		21,403
Preferred Stock With Mandatory Redemption Provisions			137
Stockholders' Equity
	Preferred stock without mandatory redemption provisions
		Nonredeemable--5% to 6%, outstanding 5,784,825 shares	145
		Redeemable--4.36% to 7.04%, outstanding 5,973,456 shares	149
	Common stock, $5 par value, authorized 800,000,000 shares;
		issued 321,314,760 shares	1,606
	Additional paid in capital		1,964
	Accumulated deficit		(136)
	Accumulated other comprehensive loss		1
	Total stockholders' equity		3,729
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY			$             25,269

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PACIFIC GAS AND ELECTRIC COMPANY
U.S. TRUSTEE BALANCE SHEET
AS OF MAY 31, 2002
Notes
1		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.
2		These unaudited financial statements were prepared using certain assumptions and estimates.  These assumptions and estimates are subject to revision.  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.
3		Cash and cash equivalents have been reduced for uncleared checks.  On the balance sheet included with the Utility's Annual Report, Form 10-K and 10-Q, uncleared checks are treated as an accounts payable liability.

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			Case to date
	Month		fourteen months
	ended		ended
	May 31, 2002		May 31, 2002
OPERATING REVENUES	$                 936		$                  12,084
OPERATING EXPENSES:
Cost of Electric Energy	179		615
Cost of Gas	68		1,399
Operating and Maintenance	205		3,145
Depreciation, Decommissioning, and Amortization	103		1,123
Total Operating Expenses	555		6,282
OPERATING INCOME (LOSS)	381		5,802
Interest Income (Expense)	(66)		(1,036)
Professional Fees	(1)		(16)
Other Income and (Expense)	0		(13)
PRE-TAX INCOME (LOSS)	314		4,737
Income Taxes	129		1,833
EARNINGS (LOSS)	185		2,904
Preferred Dividend Requirement	2		29
EARNINGS (LOSS) AVAILABLE FOR (ALLOCATED TO) COMMON STOCK	$               183		$                2,875

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PACIFIC GAS AND ELECTRIC COMPANY
U.S.  TRUSTEE INCOME STATEMENT
FOR THE MONTH ENDED MAY 31, 2002
AND THE FOURTEEN MONTHS ENDED MAY 31, 2002
Notes
1		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.
2		These unaudited financial statements were prepared using certain assumptions and estimates.  These assumptions and estimates are subject to revision.  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.
		The results for the month of May 2002 are not indicative of future earnings.  Future earnings could differ materially.
3		These unaudited financial statements were prepared using certain assumptions and estimates, including the estimated amount payable to the California Department of Water Resources (DWR).  The estimated amount recorded was the product of the estimated amount of power purchased by the DWR on behalf of retail customers during the current month and the rate of approximately 9 cents per kilowatt hour.  The estimated amount recorded is subject to revision and actual results could differ materially from the information provided in this statement.
4		Case to date results reflect the entire fourteen month period ended May 31, 2002.  The bankruptcy petition date is April 6, 2001.