<SUBMISSION>
<ACCESSION-NUMBER>0001004980-02-000093
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>2
<PERIOD>20021204
<ITEMS>5
<ITEMS>7
<FILING-DATE>20021204
<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>02848586
</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>final1204.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<html>
<head>
<title>SECURITIES AND EXCHANGE COMMISSION</title>
</head>
<body>
<div>
<table border="0" cellspacing="0" cellpadding="0" width="644">
<tr>
<td colspan="4" valign="top">
<p align="center">SECURITIES AND EXCHANGE COMMISSION</p>
</td>
</tr>

<tr>
<td colspan="4" valign="top">
<p align="center"><br />
 </p>
</td>
</tr>

<tr>
<td colspan="4" valign="top">
<p align="center">Washington, D.C.&nbsp; 20549</p>
</td>
</tr>

<tr>
<td colspan="4" valign="top">
<p align="center"><br />
<br />
 </p>
</td>
</tr>

<tr>
<td colspan="4" valign="top"></td>
</tr>

<tr>
<td colspan="4" valign="top">
<p align="center">FORM 8-K</p>
</td>
</tr>

<tr>
<td colspan="4" valign="top">
<p align="center"><br />
 </p>
</td>
</tr>

<tr>
<td colspan="4" valign="top">
<p align="center">CURRENT REPORT</p>
</td>
</tr>

<tr>
<td colspan="4" valign="top">
<p align="center"><br />
 </p>
</td>
</tr>

<tr>
<td colspan="4" valign="top">
<p align="center">Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934</p>
</td>
</tr>

<tr>
<td colspan="4" valign="top">
<p align="center"><br />
 </p>
</td>
</tr>

<tr>
<td colspan="4" valign="top">
<p align="center">Date of Report: December 4, 2002</p>
</td>
</tr>

<tr>
<td colspan="4" valign="top">
<p align="center"><br />
 </p>
</td>
</tr>

<tr>
<td colspan="4" valign="top"></td>
</tr>

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

<tr>
<td valign="top">
<p align="center">_____________</p>
</td>
<td valign="top">
<p align="center">_____________</p>
</td>
<td valign="top">
<p align="center">_____________</p>
</td>
<td valign="top">
<p align="center">_____________</p>
</td>
</tr>

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

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

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

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

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

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

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

<tr>
<td colspan="2" 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">PG&amp;E Corporation<br />
 One Market, Spear Tower, Suite 2400<br />
 San Francisco, California&nbsp;&nbsp;94105</p>
</td>
</tr>

<tr>
<td colspan="4" valign="top"></td>
</tr>

<tr>
<td colspan="4" valign="top">
<p align="center">(Address of principal executive offices) (Zip
Code)</p>
</td>
</tr>

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

<tr>
<td colspan="2" valign="top">
<p align="center">Pacific Gas and Electric Company<br />
 (415) 973-7000</p>
</td>
<td colspan="2" valign="top">
<p align="center">PG&amp;E Corporation<br />
 (415) 267-7000</p>
</td>
</tr>

<tr>
<td colspan="4" valign="top"></td>
</tr>

<tr>
<td colspan="4" valign="top">
<p align="center">(Registrant's telephone number, including area
code)</p>
</td>
</tr>

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

<p><br />
</p>

<div align="center">
<hr size="2" width="100%" align="center" />
</div>

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

<p>A.&nbsp; Pacific Gas and Electric Company&rsquo;s 2002 Attrition
Revenue Adjustment</p>

<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
December 3, 2002, an administrative law judge (ALJ) of the
California Public Utilities Commission (CPUC) issued a draft
decision proposing to deny Pacific Gas and Electric Company&rsquo;s
(Utility) request for a 2002 attrition revenue
adjustment&nbsp;&nbsp; The Utility has requested an annual increase
of $76.7 million to its electric distribution revenue requirement
and an annual increase of $19.5 million to its gas distribution
revenue requirement to allow for recovery of its capital
investments and escalating costs of providing electric and gas
distribution services in 2002.&nbsp;</p>

<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
ALJ&rsquo;s draft decision states that the Utility&rsquo;s
&ldquo;recorded numbers are too stale and the escalation rates too
uncertain to sustain a finding increasing rates&rdquo; and that any
increase in rates would require a general rate case.</p>

<p align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Comments
on the draft decision are due December 23, 2002.&nbsp; When the
CPUC acts on the draft decision, it may adopt all or part of it as
written, amend or modify it, or set it aside and prepare its own
decision.&nbsp;&nbsp;</p>

<p align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neither
PG&amp;E Corporation nor the Utility can predict the outcome of
this matter.&nbsp;</p>

<p>B.&nbsp; Pacific Gas and Electric Company Bankruptcy - Monthly
Operating Report</p>

<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
December 2, 2002, the Utility filed its monthly operating report
for the month ended October 31, 2002 with the U.S. Bankruptcy Court
for the Northern District of California.&nbsp; 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.&nbsp; 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.&nbsp; The preliminary
financial statements were prepared using certain assumptions and
estimates that are subject to revision.&nbsp; 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.&nbsp; These adjustments could have a material impact on
reported results in the future.</p>

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

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

<br clear="all" />


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

<p>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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">
<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;&nbsp;&nbsp;&nbsp;</p>
</td>
<td valign="top">
<p>PG&amp;E CORPORATION<br />
 </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;&nbsp;&nbsp;
&nbsp;&nbsp;</p>
</td>
<td valign="top">
<p>By: 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;&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;&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;CHRISTOPHER P.
JOHNS<br />
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Senior Vice President
and Controller<br />
<br />
 </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;&nbsp;&nbsp;&nbsp;&nbsp;</p>
</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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p>
</td>
<td valign="top">
<p>PACIFIC GAS AND ELECTRIC COMPANY<br />
 </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;&nbsp;&nbsp;&nbsp;&nbsp;</p>
</td>
<td valign="top">
<p>By:&nbsp;&nbsp;LINDA Y.H. CHENG</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;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p>
</td>
<td valign="top">
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;LINDA Y.H.CHENG</p>

<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate Secretary</p>
</td>
</tr>
</table>

<p>Dated:&nbsp; December 4, 2002</p>
</div>
</body>
</html>


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>3
<FILENAME>exhibit99.htm
<DESCRIPTION>PACIFIC GAS AND ELECTRIC COMPANY INCOME STATEMENT FOR THE MONTH ENDED OCTOBER 31, 2002, AND BALANCE SHEET DATED OCTOBER 31, 2002.
<TEXT>
<html>
<head>
<title>EXHIBIT 99</title>
</head>
<body>
<div>
<table border="0" cellspacing="0" cellpadding="0" width="583">
<tr height="17">
<td nowrap colspan="4" height="17" valign="bottom">
<p align="right"><b><font size="2" face="Arial">Exhibit
99&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;</font></b></p>
</td>
</tr>

<tr height="17">
<td nowrap colspan="4" height="17" valign="bottom">
<p align="center"><b><font size="2" face="Arial">PACIFIC GAS AND
ELECTRIC COMPANY</font></b></p>
</td>
</tr>

<tr height="17">
<td nowrap colspan="4" height="17" valign="bottom">
<p align="center"><b><font size="2" face="Arial">U.S. TRUSTEE
BALANCE SHEET</font></b></p>
</td>
</tr>

<tr height="17">
<td nowrap colspan="4" height="17" valign="bottom">
<p align="center"><b><font size="2" face="Arial">AS OF OCTOBER 31,
2002</font></b></p>
</td>
</tr>

<tr height="17">
<td nowrap colspan="4" height="17" valign="bottom">
<p align="center"><b><font size="2" face="Arial">(in millions,
except share amounts)</font></b></p>
</td>
</tr>

<tr height="17">
<td nowrap colspan="3" rowspan="2" valign="bottom"></td>
<td nowrap height="17" valign="bottom"></td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom">
<p align="right"><b><font size="2" face="Arial">October,
2002</font></b></p>
</td>
</tr>

<tr height="17">
<td nowrap colspan="3" height="17" valign="bottom">
<p><b><font size="2" face="Arial">ASSETS</font></b></p>
</td>
<td nowrap height="17" valign="bottom"></td>
</tr>

<tr height="17">
<td nowrap colspan="3" height="17" valign="bottom">
<p><b><font size="2" face="Arial">Current Assets</font></b></p>
</td>
<td nowrap height="17" valign="bottom"></td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom">
<p><font size="2" face="Times New Roman">&nbsp;&nbsp;</font></p>
</td>
<td nowrap colspan="2" height="17" valign="bottom">
<p><font size="2" face="Arial">Cash and cash equivalents</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face="Arial">&nbsp;
$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
3,990</font></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom">
<p><font size="2" face="Times New Roman">&nbsp;&nbsp;</font></p>
</td>
<td nowrap colspan="2" height="17" valign="bottom">
<p><font size="2" face="Arial">Accounts receivable:</font></p>
</td>
<td nowrap height="17" valign="bottom"></td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom">
<p><font size="2" face="Times New Roman">&nbsp;&nbsp;</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p><font size="2" face="Arial">Customers (net of allowance for
doubtful accounts of $56 million)</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
1,795</font></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom">
<p><font size="2" face="Arial">Related parties</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
33</font></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom">
<p><font size="2" face="Arial">Regulatory balancing
accounts</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
195</font></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap colspan="2" height="17" valign="bottom">
<p><font size="2" face="Arial">Inventories:</font></p>
</td>
<td nowrap height="17" valign="bottom"></td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom">
<p><font size="2" face="Arial">Gas stored underground and fuel
oil</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
192</font></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom">
<p><font size="2" face="Arial">Materials and supplies</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
120</font></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap colspan="2" height="17" valign="bottom">
<p><font size="2" face="Arial">Prepaid expenses and
other</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><u><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
81</font></u></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap colspan="2" height="17" valign="bottom">
<p><b><font size="2" face="Arial">Total current
assets</font></b></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><b><font size="2" face=
"Arial">6,406</font></b></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom"></td>
</tr>

<tr height="17">
<td nowrap colspan="3" height="17" valign="bottom">
<p><b><font size="2" face="Arial">Property, Plant, and
Equipment</font></b></p>
</td>
<td nowrap height="17" valign="bottom"></td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap colspan="2" height="17" valign="bottom">
<p><font size="2" face="Arial">Electric</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
18,816</font></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap colspan="2" height="17" valign="bottom">
<p><font size="2" face="Arial">Gas</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face="Arial">&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
8,050</font></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap colspan="2" height="17" valign="bottom">
<p><font size="2" face="Arial">Construction work in
progress</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><u><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
394</font></u></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap colspan="2" height="17" valign="bottom">
<p><b><font size="2" face="Arial">Total property, plant, and
equipment (at original cost)</font></b></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><b><u><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
27,260</font></u></b></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap colspan="2" height="17" valign="bottom">
<p><font size="2" face="Arial">Accumulated depreciation and
decommissioning</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><u><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(13,372)</font></u></p>
</td>
</tr>

<tr height="17">
<td nowrap colspan="3" height="17" valign="bottom">
<p><b><font size="2" face="Arial">Net property, plant, and
equipment</font></b></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><b><u><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
13,888</font></u></b></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom"></td>
</tr>

<tr height="17">
<td nowrap colspan="3" height="17" valign="bottom">
<p><b><font size="2" face="Arial">Other Noncurrent
Assets</font></b></p>
</td>
<td nowrap height="17" valign="bottom"></td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap colspan="2" height="17" valign="bottom">
<p><font size="2" face="Arial">Regulatory assets</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
2,008</font></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap colspan="2" height="17" valign="bottom">
<p><font size="2" face="Arial">Nuclear decommissioning trust
funds</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
1,276</font></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap colspan="2" height="17" valign="bottom">
<p><font size="2" face="Arial">Other</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
1,809</font></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap colspan="2" height="17" valign="bottom">
<p><b><font size="2" face="Arial">Total noncurrent
assets</font></b></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
5,093</font></p>
</td>
</tr>

<tr height="18">
<td nowrap colspan="3" height="18" valign="bottom">
<p><b><font size="2" face="Arial">TOTAL ASSETS</font></b></p>
</td>
<td nowrap height="18" valign="bottom">
<p align="right"><b><u><font size="2" face="Helvetica">&nbsp;
$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
25,387</font></u></b></p>
</td>
</tr>

<tr height="18">
<td nowrap colspan="4" height="18" valign="bottom"></td>
</tr>

<tr height="17">
<td nowrap colspan="3" height="17" valign="bottom">
<p><b><font size="2" face="Arial">LIABILITIES AND
EQUITY</font></b></p>
</td>
<td nowrap height="17" valign="bottom"></td>
</tr>

<tr height="17">
<td nowrap colspan="3" height="17" valign="bottom">
<p><b><font size="2" face="Arial">Liabilities</font></b></p>
</td>
<td nowrap height="17" valign="bottom"></td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap colspan="2" height="17" valign="bottom">
<p><font size="2" face="Arial">Accounts payable</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;</font></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom">
<p><font size="2" face="Arial">Trade creditors</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face="Arial">&nbsp;
$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
429</font></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom">
<p><font size="2" face="Arial">Related parties</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
90</font></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom">
<p><font size="2" face="Arial">Regulatory Balancing
Accounts</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
477</font></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom">
<p><font size="2" face="Arial">Other</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
214</font></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap colspan="2" height="17" valign="bottom">
<p><font size="2" face="Arial">&nbsp;&nbsp; Accrued
taxes</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
710</font></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap colspan="2" height="17" valign="bottom">
<p><font size="2" face="Arial">Rate reduction bonds</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
1,473</font></p>
</td>
</tr>

<tr>
<td nowrap valign="bottom"></td>
<td nowrap colspan="2" valign="bottom">
<p><font size="2" face="Arial">QUID's</font></p>
</td>
<td nowrap valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
-&nbsp;&nbsp;</font></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap colspan="2" height="17" valign="bottom">
<p><font size="2" face="Arial">Deferred income taxes</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
1,191</font></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap colspan="2" height="17" valign="bottom">
<p><font size="2" face="Arial">Deferred tax credits</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
145</font></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap colspan="2" height="17" valign="bottom">
<p><font size="2" face="Arial">Pre-petition secured debt</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
3,108</font></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap colspan="2" height="17" valign="bottom">
<p><font size="2" face="Arial">Pre-petition liabilities</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
3,795</font></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap colspan="2" height="17" valign="bottom">
<p><font size="2" face="Arial">Pre-petition financing
debt</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
5,663</font></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap colspan="2" height="17" valign="bottom">
<p><font size="2" face="Arial">Other liabilities</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><u><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
3,368</font></u></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap colspan="2" height="17" valign="bottom">
<p><b><font size="2" face="Arial">Total liabilities</font></b></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><b><u><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
20,663</font></u></b></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom"></td>
</tr>

<tr height="17">
<td nowrap colspan="3" height="17" valign="bottom">
<p><b><font size="2" face="Arial">Preferred Stock With Mandatory
Redemption Provisions</font></b></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
137</font></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom"></td>
</tr>

<tr height="17">
<td nowrap colspan="3" height="17" valign="bottom">
<p><b><font size="2" face="Arial">Stockholders'
Equity</font></b></p>
</td>
<td nowrap height="17" valign="bottom"></td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap colspan="2" height="17" valign="bottom">
<p><font size="2" face="Arial">Preferred stock without mandatory
redemption provisions</font></p>
</td>
<td nowrap height="17" valign="bottom"></td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom">
<p><font size="2" face="Arial">Nonredeemable--5% to 6%, outstanding
5,784,825 shares</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
145</font></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom">
<p><font size="2" face="Arial">Redeemable--4.36% to 7.04%,
outstanding 5,973,456 shares</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
149</font></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap colspan="2" height="17" valign="bottom">
<p><font size="2" face="Arial">Common stock, $5 par value,
authorized 800,000,000 shares;</font></p>
</td>
<td nowrap height="17" valign="bottom"></td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom">
<p><font size="2" face="Arial">issued 321,314,760 shares</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
1,606</font></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap colspan="2" height="17" valign="bottom">
<p><font size="2" face="Arial">Additional paid in
capital</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
1,964</font></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap colspan="2" height="17" valign="bottom">
<p><font size="2" face="Arial">Reinvested earnings (Accumulated
deficit)</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
723</font></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap colspan="2" height="17" valign="bottom">
<p><b><font size="2" face="Arial">Total stockholders'
equity</font></b></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><b><u><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
4,587</font></u></b></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
</tr>

<tr height="18">
<td nowrap colspan="3" height="18" valign="bottom">
<p><b><font size="2" face="Arial">TOTAL LIABILITIES AND
STOCKHOLDERS' EQUITY</font></b></p>
</td>
<td nowrap height="18" valign="bottom">
<p align="right"><b><u><font size="2" face="Helvetica">&nbsp;
$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
25,387</font></u></b></p>
</td>
</tr>
</table>

<p><font size="3" face="Times New Roman"></font></p>

<p><font size="3" face=
"Times New Roman">___________________________________________________________________________________________</font></p>

<p><font size="3" face="Times New Roman"></font></p>

<table border="0" cellspacing="0" cellpadding="0" width="95%">
<tr height="17">
<td nowrap colspan="3" height="17" valign="bottom">
<p align="center"><b><font size="2" face="Arial">PACIFIC GAS AND
ELECTRIC COMPANY</font></b></p>
</td>
</tr>

<tr height="17">
<td nowrap colspan="3" height="17" valign="bottom">
<p align="center"><b><font size="2" face="Arial">U.S. TRUSTEE
BALANCE SHEET</font></b></p>
</td>
</tr>

<tr height="17">
<td nowrap colspan="3" height="17" valign="bottom">
<p align="center"><b><font size="2" face="Arial">AS OF OCTOBER 31,
2002</font></b></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom"></td>
</tr>

<tr height="17">
<td nowrap colspan="2" height="17" valign="bottom">
<p><b><font size="2" face="Arial">Notes</font></b></p>
</td>
<td nowrap height="17" valign="bottom">
<p><font size="2" face="Arial">&nbsp;</font></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom"></td>
</tr>

<tr height="17">
<td nowrap height="17" valign="top">
<p><font size="2" face="Arial">&nbsp;&nbsp;1</font></p>
</td>
<td nowrap height="17" valign="top"></td>
<td nowrap height="17" valign="bottom">
<p><font size="2" face="Arial">These unaudited financial statements
are prepared for the U.S. Trustee and differ from the requirements
of generally<br />
 accepted accounting principles in that they exclude certain
financial statements (statements of cash flows,<br />
 stockholders equity, and other comprehensive income), relevant
footnotes and certain reclassifications.<br />
 </font></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom"></td>
</tr>

<tr height="85">
<td height="85" valign="top">
<p><font size="2" face="Arial">&nbsp;&nbsp;2</font></p>
</td>
<td height="85" valign="top"></td>
<td height="85" valign="top">
<p><font size="2" face="Arial">These unaudited financial statements
were prepared using certain assumptions and estimates.&nbsp; These
assumptions<br />
 and estimates are subject to revision.&nbsp; Further, the amounts
shown in this statement, when reported on a quarterly<br />
 basis, may differ materially due to adjustments in accruals,
changes in facts and circumstances, changes in<br />
 estimates, further analysis, and other factors.<br />
 </font></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom"></td>
</tr>

<tr height="51">
<td nowrap height="51" valign="top">
<p><font size="2" face="Arial">&nbsp;&nbsp;3</font></p>
</td>
<td nowrap height="51" valign="bottom"></td>
<td height="51" valign="top">
<p><font size="2" face="Arial">Cash and cash equivalents have been
reduced for uncleared checks.&nbsp; On the balance sheet included
with the Utility's<br />
 Annual Report, Form 10-K and 10-Q, uncleared checks are treated as
an accounts payable liability.<br />
 </font></p>
</td>
</tr>
</table>

<p><font size="3" face="Times New Roman"></font></p>

<p><font size="3" face=
"Times New Roman">_______________________________________________________________________________________________</font></p>

<p><font size="3" face="Times New Roman"></font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%">
<tr height="17">
<td nowrap colspan="4" height="17" valign="bottom">
<p align="center"><b><font size="2" face="Arial">PACIFIC GAS AND
ELECTRIC COMPANY</font></b></p>
</td>
</tr>

<tr height="17">
<td nowrap colspan="4" height="17" valign="bottom">
<p align="center"><b><font size="2" face="Arial">U.S. TRUSTEE
INCOME STATEMENT</font></b></p>
</td>
</tr>

<tr height="17">
<td nowrap colspan="4" height="17" valign="bottom">
<p align="center"><b><font size="2" face="Arial">FOR THE MONTH
ENDED OCTOBER 31, 2002</font></b></p>
</td>
</tr>

<tr height="17">
<td nowrap colspan="4" height="17" valign="bottom">
<p align="center"><b><font size="2" face="Arial">AND THE NINETEEN
MONTHS ENDED OCTOBER 31, 2002</font></b></p>
</td>
</tr>

<tr height="17">
<td nowrap colspan="4" height="17" valign="bottom">
<p align="center"><b><font size="2" face="Arial">(in
millions)</font></b></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom">
<p align="center"><b><font size="2" face="Arial">&nbsp; Case to
date</font></b></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom">
<p align="center"><b><font size="2" face="Arial">&nbsp;
Month</font></b></p>
</td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom">
<p align="center"><b><font size="2" face="Arial">&nbsp; nineteen
months</font></b></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom">
<p align="center"><b><font size="2" face="Arial">&nbsp;
ended</font></b></p>
</td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom">
<p align="center"><b><font size="2" face="Arial">&nbsp;
ended</font></b></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom">
<p align="center"><b><font size="2" face="Arial">October 31,
2002</font></b></p>
</td>
<td height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom">
<p align="center"><b><font size="2" face="Arial">October 31,
2002</font></b></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom">
<p><font size="2" face="Arial">OPERATING REVENUES</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face="Arial">&nbsp;
$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
969</font></p>
</td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face="Arial">&nbsp;
$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp; 16,985</font></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom"></td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom">
<p><font size="2" face="Arial">OPERATING EXPENSES:</font></p>
</td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom"></td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom">
<p><font size="2" face="Arial">Cost of Electric Energy</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
187</font></p>
</td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
1,555</font></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom">
<p><font size="2" face="Arial">Cost of Gas</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
59</font></p>
</td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
1,641</font></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom">
<p><font size="2" face="Arial">Operating and Maintenance</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
258</font></p>
</td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
4,477</font></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom">
<p><font size="2" face="Arial">Depreciation, Decommissioning, and
Amortization</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><u><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
102</font></u></p>
</td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom">
<p align="right"><u><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
1,641</font></u></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom">
<p><font size="2" face="Arial">Total Operating Expenses</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><u><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
606</font></u></p>
</td>
<td nowrap height="17" valign="bottom">
<p><u><font size="2" face="Arial">&nbsp;</font></u></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><u><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
9,314</font></u></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom"></td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom">
<p><font size="2" face="Arial">OPERATING INCOME (LOSS)</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><u><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
363</font></u></p>
</td>
<td nowrap height="17" valign="bottom">
<p><u><font size="2" face="Arial">&nbsp;</font></u></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><u><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
7,671</font></u></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom"></td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom">
<p><font size="2" face="Arial">Interest Income (Expense)</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(69)</font></p>
</td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(1,437)</font></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom">
<p><font size="2" face="Arial">Professional Fees</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(4)</font></p>
</td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(48)</font></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom">
<p><font size="2" face="Arial">Other Income and
(Expense)</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face="Arial">0</font></p>
</td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(13)</font></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom"></td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom">
<p><font size="2" face="Arial">PRE-TAX INCOME (LOSS)</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><u><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
290</font></u></p>
</td>
<td nowrap height="17" valign="bottom">
<p><u><font size="2" face="Arial">&nbsp;</font></u></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><u><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
6,173</font></u></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom"></td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom">
<p><font size="2" face="Arial">Income Taxes</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
118</font></p>
</td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
2,399</font></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom"></td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom">
<p><font size="2" face="Arial">EARNINGS (LOSS)</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
172</font></p>
</td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
3,774</font></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom"></td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom">
<p><font size="2" face="Arial">Preferred Dividend
Requirement</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&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</font></p>
</td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
40</font></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom"></td>
</tr>

<tr height="18">
<td nowrap height="18" valign="bottom">
<p><font size="2" face="Arial">EARNINGS (LOSS) AVAILABLE FOR
(ALLOCATED TO) COMMON STOCK</font></p>
</td>
<td nowrap height="18" valign="bottom">
<p align="right"><u><font size="2" face="Helvetica">&nbsp;
$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
170</font></u></p>
</td>
<td nowrap height="18" valign="bottom">
<p><u><font size="2" face="Helvetica">&nbsp;</font></u></p>
</td>
<td nowrap height="18" valign="bottom">
<p align="right"><u><font size="2" face="Helvetica">&nbsp;
$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
3,734</font></u></p>
</td>
</tr>
</table>

<p><font size="3" face="Times New Roman"></font></p>

<p><font size="3" face=
"Times New Roman">_______________________________________________________________________________________________</font></p>

<p><font size="3" face="Times New Roman"></font></p>

<table border="0" cellspacing="0" cellpadding="0" width="726">
<tr height="17">
<td nowrap colspan="3" height="17" valign="top">
<p align="center"><b><font size="2" face="Arial">PACIFIC GAS AND
ELECTRIC COMPANY</font></b></p>
</td>
</tr>

<tr height="17">
<td nowrap colspan="3" height="17" valign="top">
<p align="center"><b><font size="2" face="Arial">U.S.&nbsp; TRUSTEE
INCOME STATEMENT</font></b></p>
</td>
</tr>

<tr height="17">
<td nowrap colspan="3" height="17" valign="top">
<p align="center"><b><font size="2" face="Arial">FOR THE MONTH
ENDED OCTOBER 31, 2002</font></b></p>
</td>
</tr>

<tr height="17">
<td nowrap colspan="3" height="17" valign="top">
<p align="center"><b><font size="2" face="Arial">AND THE NINETEEN
MONTHS ENDED OCTOBER 31, 2002</font></b></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="top"></td>
<td nowrap height="17" valign="top"></td>
<td nowrap height="17" valign="top"></td>
</tr>

<tr height="17">
<td nowrap height="17" valign="top"></td>
<td nowrap height="17" valign="top"></td>
<td nowrap height="17" valign="top"></td>
</tr>

<tr height="17">
<td nowrap colspan="2" height="17" valign="top">
<p><b><font size="2" face="Arial">Notes</font></b></p>
</td>
<td nowrap height="17" valign="top">
<p><font size="2" face="Arial">&nbsp;</font></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="top"></td>
<td nowrap height="17" valign="top"></td>
<td nowrap height="17" valign="top"></td>
</tr>

<tr height="68">
<td nowrap height="68" valign="top">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;1</font></p>
</td>
<td nowrap height="68" valign="top">
<p><font size="2" face="Arial">&nbsp;&nbsp;</font></p>
</td>
<td height="68" valign="top">
<p><font size="2" face="Arial">These unaudited financial statements
are prepared for the U.S. Trustee and differ from the requirements
of generally<br />
 accepted accounting principles in that they exclude certain
financial statements (statements of cash flows,<br />
 stockholders equity, and other comprehensive income), relevant
footnotes and certain reclassifications.<br />
 </font></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="top"></td>
<td nowrap height="17" valign="top"></td>
<td nowrap height="17" valign="top"></td>
</tr>

<tr height="68">
<td nowrap height="68" valign="top">
<p align="right"><font size="2" face="Arial">2</font></p>
</td>
<td nowrap height="68" valign="top"></td>
<td height="68" valign="top">
<p><font size="2" face="Arial">These unaudited financial statements
were prepared using certain assumptions and estimates.&nbsp;
These<br />
 assumptions and estimates are subject to revision.&nbsp; Further,
the amounts shown in this statement, when reported<br />
 on a quarterly basis, may differ materially due to adjustments in
accruals, changes in facts and circumstances,<br />
 changes in estimates, further analysis, and other
factors.</font></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="top"></td>
<td nowrap height="17" valign="top"></td>
<td nowrap height="17" valign="top"></td>
</tr>

<tr height="34">
<td nowrap height="34" valign="top"></td>
<td nowrap height="34" valign="top"></td>
<td height="34" valign="top">
<p><font size="2" face="Arial">The results for the month of October
2002 are not indicative of future earnings.&nbsp; Future earnings
could differ<br />
 materially.</font></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="top"></td>
<td nowrap height="17" valign="top"></td>
<td nowrap height="17" valign="top"></td>
</tr>

<tr height="85">
<td nowrap height="85" valign="top">
<p align="right"><font size="2" face="Arial">3</font></p>
</td>
<td nowrap height="85" valign="top"></td>
<td height="85" valign="top">
<p><font size="2" face="Arial">These unaudited financial statements
were prepared using certain assumptions and estimates, including
the<br />
 estimated amount payable to the California Department of Water
Resources (DWR).&nbsp; The estimated amount<br />
 recorded is subject to revision and actual results could differ
materially.&nbsp; Revenues collected on behalf of the DWR<br />
 and the related costs are not reflected in these unaudited
financial statements as Pacific Gas and Electric<br />
 Company is a collection agent for the DWR.</font></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="top"></td>
<td nowrap height="17" valign="top"></td>
<td nowrap height="17" valign="top"></td>
</tr>

<tr height="34">
<td nowrap height="34" valign="top">
<p align="right"><font size="2" face="Arial">4</font></p>
</td>
<td nowrap height="34" valign="top"></td>
<td height="34" valign="top">
<p><font size="2" face="Arial">Case to date results reflect the
entire nineteen month period ended October 31, 2002.&nbsp; The
bankruptcy petition<br />
 date is April 6, 2001.</font></p>
</td>
</tr>
</table>

<p><font size="3" face="Times New Roman"></font></p>
</div>
</body>
</html>


</TEXT>
</DOCUMENT>
</SUBMISSION>
