<SUBMISSION>
<ACCESSION-NUMBER>0001004980-03-000139
<TYPE>11-K
<PUBLIC-DOCUMENT-COUNT>4
<PERIOD>20021231
<FILING-DATE>20030627
<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>11-K
<ACT>34
<FILE-NUMBER>001-12609
<FILM-NUMBER>03760744
</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>11-K
<SEQUENCE>1
<FILENAME>utility11k_02.htm
<DESCRIPTION>UTILITY 2002 11-K
<TEXT>
<HTML>
<HEAD>
<META NAME="Generator" CONTENT="Microsoft Word 97">
<TITLE>SECURITIES AND EXCHANGE COMMISSION</TITLE>
<META NAME="doccomm" CONTENT="006716-000002">
</HEAD>
<BODY>

<P ALIGN="CENTER">SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549<BR>
<BR>
FORM 11-K<BR>
<BR>
<BR>
[X]&nbsp;&nbsp;ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE<BR>
SECURITIES EXCHANGE ACT OF 1934<BR>
<BR>
For the fiscal year ended December 31, 2002<BR>
<BR>
OR<BR>
<BR>
[&nbsp;&nbsp;]&nbsp;&nbsp;TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE<BR>
SECURITIES EXCHANGE ACT OF 1934<BR>
<BR>
Commission file number 333-46772<BR>
</P>

<P ALIGN="CENTER">A.&nbsp;&nbsp;Full title of the plan and the address of the plan, if different from<BR>
that of the issuer named below:<BR>
</P>
<P ALIGN="CENTER">The Pacific Gas and Electric Company Savings Fund Plan for<BR>
Union Represented Employees<BR>
245 Market Street, Mail Code N2P,<BR>
San Francisco, CA 94177<BR>
</P>
<P ALIGN="CENTER"><BR>
</P>
<P ALIGN="CENTER">B.&nbsp;&nbsp;Name of issuer of the securities held pursuant to the Plan and the<BR>
address of its principal executive office:</P>
<P ALIGN="CENTER"></P>
<P ALIGN="CENTER">PG&amp;E Corporation<BR>
One Market, Spear Tower<BR>
Suite 2400<BR>
San Francisco, CA  94105</P>
<P><BR>
<BR>
</P>
<P ALIGN="CENTER"></P>
<P ALIGN="CENTER">REQUIRED INFORMATION</P>
<P ALIGN="CENTER"></P>
<P>&nbsp;</P>
<P>1.&nbsp;&nbsp;The Statements of Net Assets Available for Benefits as of December 31, 2002 and 2001 and the Statements of Changes in Net Assets Available for Benefits for the Years then Ended, together with supplemental schedule and the report of Mah &amp; Associates LLP, independent public accountants, are contained in Exhibit 1 to this Annual Report.<BR>
</P>
<P>2.&nbsp;&nbsp;The Consent of Mah &amp; Associates LLP, independent public accountants, is contained in Exhibit 2 to this Annual Report.<BR>
</P>
<P>3.&nbsp;&nbsp;Certification of the Chairman of the PG&amp;E Corporation Employee Benefit Committee pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 is contained in Exhibit 3 to this Annual Report.<BR>
</P>
<P ALIGN="CENTER"></P>
<P ALIGN="CENTER">SIGNATURES</P>
<P ALIGN="CENTER"></P>
<P>&nbsp;</P>
<P>The Plan.  Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

<P>&nbsp;</P>
<P ALIGN="RIGHT"><TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=373>
<TR><TD VALIGN="TOP">
<P>THE PACIFIC GAS AND ELECTRIC COMPANY<BR>
SAVINGS FUND PLAN FOR<BR>
UNION REPRESENTED EMPLOYEES</TD>
</TR>
</TABLE>
</P>


<P>&nbsp;</P>
<P ALIGN="RIGHT"><TABLE CELLSPACING=0 BORDER=0 WIDTH=318>
<TR><TD WIDTH="13%" VALIGN="TOP">
<P>By:</TD>
<TD WIDTH="87%" VALIGN="TOP">
<P>/S/ BRUCE R. WORTHINGTON</TD>
</TR>
<TR><TD WIDTH="13%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="87%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="13%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="87%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
<TR><TD WIDTH="13%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="87%" VALIGN="TOP">
<P>Bruce R. Worthington</TD>
</TR>
<TR><TD WIDTH="13%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="87%" VALIGN="TOP">
<P>Chairman, PG&amp;E Corporation<BR>
Employee Benefit Committee</TD>
</TR>
</TABLE>
</P>


<P>&nbsp;</P>
<P>Date:&nbsp;&nbsp;June 27, 2003</P></BODY>
</HTML>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>utilitysfpar_02.htm
<DESCRIPTION>UTILITY SAVINGS FUND PLAN ANNUAL REPORT 2002
<TEXT>
<HTML>
<HEAD>
<META NAME="Generator" CONTENT="Microsoft Word 97">
<TITLE>EXHIBIT 1</TITLE>
</HEAD>
<BODY>
<DIR>

<FONT SIZE=4><P ALIGN="CENTER">EXHIBIT 1<B><BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
PACIFIC GAS AND ELECTRIC COMPANY<BR>
SAVINGS FUND PLAN FOR UNION<BR>
REPRESENTED EMPLOYEES<BR>
</P></DIR>

</FONT><FONT SIZE=3><P ALIGN="CENTER">FINANCIAL STATEMENTS<BR>
AS OF DECEMBER 31, 2002 AND 2001<BR>
AND<BR>
INDEPENDENT AUDITORS' REPORT</P>
</FONT><P ALIGN="CENTER">_____________________________</P><DIR>

<P><BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
</P></DIR>

<FONT SIZE=4><P>PACIFIC GAS AND ELECTRIC COMPANY<BR>
SAVINGS FUND PLAN FOR UNION REPRESENTED EMPLOYEES</P>
</B></FONT><FONT SIZE=2><P><BR>
</P>
</FONT><B><P>Table of Contents&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
</B><FONT SIZE=2></FONT>
<P ALIGN="LEFT"><TABLE CELLSPACING=0 BORDER=0 WIDTH=540>
<TR><TD WIDTH="86%" VALIGN="TOP" COLSPAN=2 BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
<TR><TD WIDTH="86%" VALIGN="TOP" COLSPAN=2>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="86%" VALIGN="TOP" COLSPAN=2>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP">
<B><FONT SIZE=3><P ALIGN="CENTER">Page</B></FONT></TD>
</TR>
<TR><TD WIDTH="86%" VALIGN="TOP" COLSPAN=2>
<FONT SIZE=3><P>INDEPENDENT AUDITORS' REPORT</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT SIZE=3><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2</FONT></TD>
</TR>
<TR><TD WIDTH="86%" VALIGN="TOP" COLSPAN=2 HEIGHT=46>
<FONT SIZE=3><P>FINANCIAL STATEMENTS AS OF AND FOR THE YEARS<BR>
&nbsp;&nbsp;ENDED DECEMBER 31, 2002 AND 2001:</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=46><P></P></TD>
</TR>
<TR><TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="82%" VALIGN="TOP">
<FONT SIZE=3><P>Statements of Net Assets Available for Benefits</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT SIZE=3><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3</FONT></TD>
</TR>
<TR><TD WIDTH="3%" VALIGN="TOP" BGCOLOR="#ffffff">&nbsp;</TD>
<TD WIDTH="82%" VALIGN="TOP" BGCOLOR="#ffffff">
<FONT SIZE=3><P>Statements of Changes in Net Assets Available for Benefits</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP" BGCOLOR="#ffffff">
<FONT SIZE=3><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4</FONT></TD>
</TR>
<TR><TD WIDTH="86%" VALIGN="TOP" COLSPAN=2>
<FONT SIZE=3><P>NOTES TO THE FINANCIAL STATEMENTS</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT SIZE=3><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5-10</FONT></TD>
</TR>
<TR><TD WIDTH="86%" VALIGN="TOP" COLSPAN=2>
<FONT SIZE=3><P>SUPPLEMENTAL SCHEDULE AS OF DECEMBER 31, 2002:</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="82%" VALIGN="TOP">
<FONT SIZE=3><P>Schedule H Line 4i - Schedule of Assets (Held at End of Year)</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT SIZE=3><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11-12</FONT></TD>
</TR>
</TABLE>
</P>

<FONT SIZE=3><P><BR>
<BR>
<BR>
<BR>
<BR>
<BR>
</P>
<P>&nbsp;</P>
<B><P>INDEPENDENT AUDITORS' REPORT </P>
</B><P>To the Employee Benefit Committee of PG&amp;E Corporation,<BR>
Pacific Gas and Electric Company and Participants in the<BR>
Pacific Gas and Electric Company Savings Fund Plan for Union Represented Employees:</P>

<P ALIGN="JUSTIFY">We have audited the accompanying statements of net assets available for benefits of Pacific Gas and Electric Company Savings Fund Plan for Union Represented Employees (Plan) as of December&nbsp;31, 2002 and 2001, and the related statements of changes in net assets available for benefits for the years then ended.  These financial statements are the responsibility of the Plan's management.  Our responsibility is to express an opinion on these financial statements and schedules based on our audits.</P>
<P ALIGN="JUSTIFY"></P>
<P ALIGN="JUSTIFY">We conducted our audits in accordance with auditing standards generally accepted in the United States of America.  Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement.  An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements.  An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation.  We believe that our audits provide a reasonable basis for our opinion.</P>
<P ALIGN="JUSTIFY"></P>
<P ALIGN="JUSTIFY">In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for benefits of the Plan as of December&nbsp;31, 2002 and 2001, and the changes in its net assets available for benefits for the years then ended, in conformity with accounting principles generally accepted in the United States of America.</P>
<P ALIGN="JUSTIFY"></P>
<P ALIGN="JUSTIFY">Our audits were performed for the purpose of forming an opinion on the basic financial statements taken as a whole.  The supplemental schedule of assets held at end of the year is presented for the purpose of additional analysis and is not a required part of the basic financial statements but is supplementary information required by the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974.  The supplemental schedule has been subjected to the auditing procedures applied in the audits of the basic 2002 financial statements and, in our opinion, is fairly stated in all material respects in relation to the basic financial statements taken as a whole. </P>
<P ALIGN="JUSTIFY"></P>
<P>&nbsp;</P>
<P>Mah &amp; Associates, LLP</P>

<P>San Francisco, California<BR>
May 13, 2003, except for Note 6, for which the date is June 19, 2003</P>
<P><BR>
</P>
</FONT><B><FONT SIZE=4>
<P>PACIFIC GAS AND ELECTRIC COMPANY<BR>
SAVINGS FUND PLAN FOR UNION REPRESENTED EMPLOYEES</P>
</FONT>
<FONT SIZE=3><P>STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS<BR>
(in thousands)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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>
</FONT><U><FONT SIZE=2></B></U></FONT>
<TABLE CELLSPACING=0 BORDER=0 WIDTH=582>
<TR><TD WIDTH="66%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="4%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="30%" VALIGN="TOP" COLSPAN=3 BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="30%" VALIGN="TOP" COLSPAN=3>&nbsp;</TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="30%" VALIGN="TOP" COLSPAN=3>
<B><FONT SIZE=3><P ALIGN="CENTER">As of December 31,</B></FONT></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="12%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="4%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="12%" VALIGN="TOP">
<B><FONT SIZE=3><P ALIGN="CENTER">2002</B></FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP">
<B><FONT SIZE=3><P ALIGN="CENTER">2001</B></FONT></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="12%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="12%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">
<FONT SIZE=3><P>ASSETS:</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="12%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">
<FONT SIZE=3><P>&nbsp;&nbsp;Investments at fair value</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<FONT SIZE=3><P ALIGN="CENTER">$</FONT></TD>
<TD WIDTH="12%" VALIGN="TOP">
<FONT SIZE=3><P ALIGN="RIGHT">802,244</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<FONT SIZE=3><P ALIGN="CENTER">$</FONT></TD>
<TD WIDTH="13%" VALIGN="TOP">
<FONT SIZE=3><P ALIGN="RIGHT">1,001,014</FONT></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">
<FONT SIZE=3><P>&nbsp;&nbsp;Stable Value Fund</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="12%" VALIGN="TOP">
<FONT SIZE=3><P ALIGN="RIGHT">297,846</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP">
<FONT SIZE=3><P ALIGN="RIGHT">253,032</FONT></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">
<FONT SIZE=3><P>&nbsp;&nbsp;Participant loans</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="12%" VALIGN="TOP">
<FONT SIZE=3><P ALIGN="RIGHT">19,172</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP">
<FONT SIZE=3><P ALIGN="RIGHT">20,646</FONT></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="12%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="12%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">
<FONT SIZE=3><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total investments</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="12%" VALIGN="TOP">
<FONT SIZE=3><P ALIGN="RIGHT">1,119,262</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP">
<FONT SIZE=3><P ALIGN="RIGHT">1,274,692</FONT></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="12%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="12%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">
<FONT SIZE=3><P>&nbsp;&nbsp;Receivables:</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="12%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">
<FONT SIZE=3><P>&nbsp;&nbsp;&nbsp;&nbsp;Interest </FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="12%" VALIGN="TOP">
<FONT SIZE=3><P ALIGN="RIGHT">93</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP">
<FONT SIZE=3><P ALIGN="RIGHT">42</FONT></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">
<FONT SIZE=3><P>&nbsp;&nbsp;&nbsp;&nbsp;Investments sold</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="12%" VALIGN="TOP">
<FONT SIZE=3><P ALIGN="RIGHT">-</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP">
<FONT SIZE=3><P ALIGN="RIGHT">2,051</FONT></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">
<FONT SIZE=3><P>&nbsp;&nbsp;&nbsp;&nbsp;Other</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="12%" VALIGN="TOP">
<FONT SIZE=3><P ALIGN="RIGHT">-</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP">
<FONT SIZE=3><P ALIGN="RIGHT">49</FONT></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="12%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="12%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">
<FONT SIZE=3><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total receivables</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="12%" VALIGN="TOP">
<FONT SIZE=3><P ALIGN="RIGHT">93</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP">
<FONT SIZE=3><P ALIGN="RIGHT">2,142</FONT></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="12%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP" HEIGHT=19><P></P></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=19><P></P></TD>
<TD WIDTH="12%" VALIGN="TOP" HEIGHT=19><P></P></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=19><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=19><P></P></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">
<FONT SIZE=3><P>Total assets</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="12%" VALIGN="TOP">
<FONT SIZE=3><P ALIGN="RIGHT">1,119,355</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP">
<FONT SIZE=3><P ALIGN="RIGHT">1,276,834</FONT></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="12%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="12%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">
<FONT SIZE=3><P>LIABILITIES</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="12%" VALIGN="TOP">
<FONT SIZE=3><P ALIGN="RIGHT">63</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP">
<FONT SIZE=3><P ALIGN="RIGHT">68</FONT></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="12%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="12%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="12%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=16><P></P></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">
<FONT SIZE=3><P>NET ASSETS AVAILABLE FOR BENEFITS</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<FONT SIZE=3><P ALIGN="CENTER">$</FONT></TD>
<TD WIDTH="12%" VALIGN="TOP">
<FONT SIZE=3><P ALIGN="RIGHT">1,119,292</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<FONT SIZE=3><P ALIGN="CENTER">$</FONT></TD>
<TD WIDTH="13%" VALIGN="TOP">
<FONT SIZE=3><P ALIGN="RIGHT">1,276,766</FONT></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="12%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="12%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=1><P></P></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="12%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP" HEIGHT=18><P></P></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=18><P></P></TD>
<TD WIDTH="12%" VALIGN="TOP" HEIGHT=18><P></P></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=18><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=18><P></P></TD>
</TR>
</TABLE>

<B><U><FONT SIZE=2><P><BR>
</B></U><BR>
<BR>
</P>
</FONT><FONT SIZE=3><P ALIGN="CENTER"><BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
See accompanying Notes to the Financial Statements.<BR>
<BR>
<BR>
<BR>
</P>

</FONT><B><FONT SIZE=4><P>PACIFIC GAS AND ELECTRIC COMPANY<BR>
SAVINGS FUND PLAN FOR UNION REPRESENTED EMPLOYEES</P>
</FONT><U><FONT SIZE=2>
</U></FONT><FONT SIZE=3><P>STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS<BR>
(in thousands)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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>
</FONT><U><FONT SIZE=2></B></U></FONT>
<TABLE CELLSPACING=0 BORDER=0 WIDTH=594>
<TR><TD WIDTH="66%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="2%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="32%" VALIGN="TOP" COLSPAN=3 BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="32%" VALIGN="TOP" COLSPAN=3>&nbsp;</TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="32%" VALIGN="TOP" COLSPAN=3>
<B><FONT SIZE=3><P ALIGN="CENTER">Years ended December 31,</B></FONT></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="2%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<B><FONT SIZE=3><P ALIGN="CENTER">2002</B></FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP">
<B><FONT SIZE=3><P ALIGN="CENTER">2001</B></FONT></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="2%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">
<FONT SIZE=3><P>ADDITIONS TO NET ASSETS ATTRIBUTABLE TO:</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">
<FONT SIZE=3><P>&nbsp;&nbsp;&nbsp;Investment Income (Loss):</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">
<FONT SIZE=3><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest, dividend, and other income</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP">
<FONT SIZE=3><P ALIGN="RIGHT">$</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=3><P ALIGN="RIGHT">2,072&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<FONT SIZE=3><P ALIGN="RIGHT">$</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT SIZE=3><P ALIGN="RIGHT">2,947&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">
<FONT SIZE=3><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net depreciation in fair value of investments</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=3><P ALIGN="RIGHT">(169,995)</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT SIZE=3><P ALIGN="RIGHT">(51,753)</FONT></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="2%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">
<FONT SIZE=3><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total investment loss</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=3><P ALIGN="RIGHT">(167,923)</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT SIZE=3><P ALIGN="RIGHT">(48,806)</FONT></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="2%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">
<FONT SIZE=3><P>&nbsp;&nbsp;&nbsp;Contributions:</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">
<FONT SIZE=3><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Employer contributions</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=3><P ALIGN="RIGHT">14,269&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT SIZE=3><P ALIGN="RIGHT">14,484&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">
<FONT SIZE=3><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Employee contributions</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=3><P ALIGN="RIGHT">56,299&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT SIZE=3><P ALIGN="RIGHT">56,510&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="2%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">
<FONT SIZE=3><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total contributions</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=3><P ALIGN="RIGHT">70,568&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT SIZE=3><P ALIGN="RIGHT">70,994&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="2%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">
<FONT SIZE=3><P>&nbsp;&nbsp;&nbsp;Total additions</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=3><P ALIGN="RIGHT">(97,355)</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT SIZE=3><P ALIGN="RIGHT">22,188&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="2%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="83%" VALIGN="TOP" COLSPAN=3>
<FONT SIZE=3><P>DEDUCTIONS FROM NET ASSETS ATTRIBUTABLE TO:</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">
<FONT SIZE=3><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Benefit distributions to participants</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=3><P ALIGN="RIGHT">50,557&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT SIZE=3><P ALIGN="RIGHT">81,615&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">
<FONT SIZE=3><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Administrative expenses</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=3><P ALIGN="RIGHT">199&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT SIZE=3><P ALIGN="RIGHT">203&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="2%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">
<FONT SIZE=3><P>&nbsp;&nbsp;&nbsp;Total deductions</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=3><P ALIGN="RIGHT">50,756&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT SIZE=3><P ALIGN="RIGHT">81,818&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="2%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">
<FONT SIZE=3><P>NET DECREASE BEFORE ASSET TRANSFERS</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=3><P ALIGN="RIGHT">(148,111)</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT SIZE=3><P ALIGN="RIGHT">(59,630)</FONT></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">
<FONT SIZE=3><P>Asset transfers out</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=3><P ALIGN="RIGHT">(9,363)</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT SIZE=3><P ALIGN="RIGHT">(13,314)</FONT></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="2%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">
<FONT SIZE=3><P>NET DECREASE</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=3><P ALIGN="RIGHT">(157,474)</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT SIZE=3><P ALIGN="RIGHT">(72,944)</FONT></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">
<FONT SIZE=3><P>NET ASSETS AVAILABLE FOR BENEFITS:</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">
<FONT SIZE=3><P>&nbsp;&nbsp;Beginning of year</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=3><P ALIGN="RIGHT">1,276,766&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT SIZE=3><P ALIGN="RIGHT">1,349,710&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="2%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">
<FONT SIZE=3><P>&nbsp;&nbsp;End of year</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP">
<FONT SIZE=3><P ALIGN="RIGHT">$</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=3><P ALIGN="RIGHT">1,119,292&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<FONT SIZE=3><P ALIGN="RIGHT">$</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT SIZE=3><P ALIGN="RIGHT">1,276,766&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="2%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="2%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=1><P></P></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="2%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP">&nbsp;</TD>
</TR>
</TABLE>

<FONT SIZE=2>
</FONT><FONT SIZE=3><P ALIGN="CENTER"><BR>
<BR>
<BR>
See accompanying Notes to the Financial Statements.</P>
<U>
</U></FONT><FONT SIZE=2><P>&nbsp;</P>
</FONT><B><FONT SIZE=4><P>PACIFIC GAS AND ELECTRIC COMPANY<BR>
SAVINGS FUND PLAN FOR UNION REPRESENTED EMPLOYEES<BR>
</B></FONT><FONT SIZE=3><BR>
<B>NOTES TO THE FINANCIAL STATEMENTS</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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><B><FONT SIZE=2><BR>
</P>
</B></FONT><U><FONT SIZE=3><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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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>
</U><B>
<P>NOTE 1: &nbsp;DESCRIPTION OF PLAN</B><BR>
<U><BR>
</U>The following is a brief description of the Pacific Gas and Electric Company Savings Fund Plan for Union Represented Employees (Plan).  The Plan document (Plan Document) provides a more complete description of the Plan's provisions.</P>
<P ALIGN="JUSTIFY"></P>
<B><I><P ALIGN="JUSTIFY">General</B> - </I>The Plan is a defined contribution plan and is subject to the provisions of the Employee Retirement Income Security Act of 1974 (ERISA), as amended.  The Plan covers certain</FONT><FONT SIZE=3 COLOR="#0000ff"> </FONT><FONT SIZE=3>eligible union employees of Pacific Gas and Electric Company (Company).  </P>
<P ALIGN="JUSTIFY">The Board of Directors of PG&amp;E Corporation (Corporation), the Company's parent company, established the Employee Benefit Committee (EBC) to have oversight over the administration and financial management of affiliated company funded employee benefit plans.  The EBC provides administrative oversight on behalf of the Plan.  All plan assets are held in a trust (Trust), and the EBC retains State Street Bank and Trust Company as the Trustee of the Plan.</P>
<B><I><P ALIGN="JUSTIFY">Eligibility</B> </I>- Certain union employees of the Company, as defined in the Plan Document, are eligible to participate in the Plan upon attaining regular employment status.</P>
<B><I><P ALIGN="JUSTIFY">Contributions</B> - </I>Participating employees may elect to contribute, through payroll deductions, from 1 to 15 percent of their covered compensation as defined in the Plan Document (Covered Compensation).  The Covered Compensation for purposes for the Plan is limited by the Internal Revenue Code (Code) to $200,000 for the 2002 plan year, and $170,000 for the 2001 plan year.  These elective contributions can be on a pre-tax basis, on an after-tax basis, or a combination of both pre-tax and after-tax basis.  </P>
<P ALIGN="JUSTIFY">The Company matches contributions in an amount equal to 50 percent of each participant's elective contribution, up to 6 percent of the participant's Covered Compensation, depending on length of service as defined by the Plan Document.</P>
<P ALIGN="JUSTIFY">Participants may also rollover distribution amounts from other qualified plans into the Plan.</P>
<P ALIGN="JUSTIFY">Pre-tax, rollover, and Company contributions are not subject to federal or state income taxes until withdrawn or distributed from the Plan, as set forth by the regulations in the Code.</P>
<P ALIGN="JUSTIFY">As provided by the Code, pre-tax employee contributions may not exceed $11,000 for the 2002 plan year, and $10,500 for the 2001 plan year.  Total contributions made to a participant's account by both the participant and the employer is limited and may not exceed the lesser of 100 percent of the participant's Covered Compensation or $40,000 for the 2002 plan year, and may not exceed the lesser of 25 percent of the participant's Covered Compensation or $35,000 for the 2001 plan year.  Participants aged 50 and older are permitted to make an additional catch-up deferral contribution up to $1,000 for the 2002 plan year.  The 2002 total contribution limitation amount is exclusive of any allowed catch-up contributions.</P>
<B><I><P ALIGN="JUSTIFY">Participant Accounts</B> - </I>Individual accounts are maintained for each of the Plan's participants and each account is credited with the employee's elective contribution, the employer's matching contribution, and an allocation of the Plan's net earnings and certain investment management fees.  Allocations are based on participant account balances as defined in the Plan Document.</P>
<B><I><P ALIGN="JUSTIFY">Vesting</B></I> - Employer contributions and participant elective contributions and their related accumulated earnings and losses are 100 percent vested at all times.</P>
<B><I><P ALIGN="JUSTIFY">Investment Options</B> </I>- Individual participants designate the way in which their contributions and their employer's contributions are invested and may change their investment designation at any time.  The following investment funds were available to the participants as of December 31, 2002 and 2001:</P>

<UL>
<I><P ALIGN="JUSTIFY"><LI>PG&amp;E Corporation Stock Fund</I> - This fund invests primarily in PG&amp;E Corporation Common Stock, and also invests in short-term investments (approximately 1 to 5 percent of total investments) to meet daily liquidity requirements.  This fund is designed to provide participants with an opportunity to own part of PG&amp;E Corporation and share in the investment performance of the PG&amp;E Corporation Common Stock.</LI></P>
<I><P ALIGN="JUSTIFY"><LI>Bond Index Fund </I>- This fund invests primarily in government, corporate, mortgage-backed, and asset-backed securities.  The Fund invests in a well-diversified portfolio that is representative of the broad domestic bond market. </LI></P>
<I><P ALIGN="JUSTIFY"><LI>Small Company Stock Index Fund</I> - This fund invests in all of the stocks in the Russell Special Small Company Index in proportion to their weightings in the index.  </LI></P>
<I><P ALIGN="JUSTIFY"><LI>Large Company Stock Index Fund</I> - This fund invests in all 500 stocks in the S&amp;P 500 Index in proportion to their weightings in the index. </LI></P>
<I><P ALIGN="JUSTIFY"><LI>International Stock Index Fund</I> - This fund invests in all stocks in the Morgan Stanley Capital International Europe, Australasia, and Far East Index in proportion to their weightings in the index.</LI></P>
<I><P ALIGN="JUSTIFY"><LI>Conservative Asset Allocation Fund</I> - This fund is a portfolio of commingled stock and bond funds that invest approximately 60 percent in the Bond Index Fund, 30 percent in the Large Company Stock Index Fund, 5 percent in the Small Company Stock Index Fund, and 5 percent in the International Stock Index Fund.</LI></P>
<I><P ALIGN="JUSTIFY"><LI>Moderate Asset Allocation Fund</I> - This fund is a portfolio of commingled stock and bond funds that invests approximately 40 percent in the Bond Index Fund, 42 percent in the Large Company Stock Index Fund, 8 percent in the Small Company Stock Index Fund, and 10 percent in the International Stock Index Fund.</LI></P>
<I><P ALIGN="JUSTIFY"><LI>Aggressive Asset Allocation Fund</I> - This fund is a portfolio of commingled stock and bond funds that invests approximately 20 percent in the Bond Index Fund, 55 percent in the Large Company Stock Index Fund, 10 percent in the Small Company Stock Index Fund, and 15 percent in the International Stock Index Fund. </LI></P>
<I><P ALIGN="JUSTIFY"><LI>United States Bond Fund</I> - This fund invests in United States Savings Bonds, and was closed to new contributions by participants effective July 1, 1991.  However, participants are allowed to maintain their investments in this fund from contributions designated prior to July 1, 1991.</LI></P>
<I><P ALIGN="JUSTIFY"><LI>Stable Value Fund </I>- This fund invests in a diversified portfolio of investment contracts issued by insurance companies, banks, and other financial institutions.</LI></P></UL>

<B><I><P ALIGN="JUSTIFY">Participant Loans</B> - </I>Effective January 1, 1999, participants may borrow from their account balance a minimum of $1,000 and a maximum equal to the lesser of $50,000 or 50 percent of the market value of the participant's account balance.  Loan terms are up to five years for general-purposes or up to 15 years for the purchase of a primary residence.  The loans are secured by the balance in the participant's account and bear interest at a rate equal to the prime rate plus one percent.  The prime rate will be based on the published rate in the Wall Street Journal on the last business day of the month preceding the month in which the loan is taken.  The rate remains fixed throughout the duration of the loan term.  Principal and interest are paid primarily through payroll deductions.  Principal and related loan interest payments are returned to the participant's account.  Interest rates on outstanding loans range from 5.75 percent to 10.50 percent.</P>
<B><I><P ALIGN="JUSTIFY">Benefits</B></I> - Upon termination of service from any affiliate of the Company, a participant may elect to receive an amount equal to the participant's account balance.  The form of payment may be a single lump-sum distribution or a partial distribution with the remainder paid later.  Participants may also elect to roll their account balances into another qualified plan or account.  In the event of a participant's death, the participant's beneficiaries will receive the value of the participant's account balance in a lump sum payment.</P>
<B><I><P ALIGN="JUSTIFY">Withdrawals</B> </I>- Except upon death, total disability, termination, or retirement, withdrawal of participant account balances requires approval of the Trustee and the Company.  Hardship withdrawals and certain in-service withdrawals are permitted subject to plan provisions.</P>
<B><I><P ALIGN="JUSTIFY">Administrative Expenses </B></I>- The Company pays certain costs of administering the Plan, including fees and certain expenses of the Trustee.  Certain investment management fees are also paid through the Trust.  These fees paid through the Trust reduce the participant's investment return reported and credited to their accounts.</P>
<B><I><P ALIGN="JUSTIFY">Voting Rights</B> - </I>Each participant is entitled to exercise voting rights attributable to the equivalent shares allocated to their account for the PG&amp;E Corporation Stock Fund and is notified by the Trustee prior to the time that such rights are to be exercised.  The Trustee is not permitted to vote any share for which a participant has not given instructions.  However, the Trustee is required to vote any unallocated shares on behalf of the collective best interest of Plan participants and beneficiaries.</P>
<B><I><P ALIGN="JUSTIFY">Plan Termination</I> </B>-<I> </I>The Corporation's Board of Directors reserves the right to amend or terminate the Plan at any time subject to the provisions of ERISA.  In the event the Plan is terminated, participants will receive full payment of the balance in their accounts.  No plan assets may revert to the Company or the Corporation<I>.</P>
</I></FONT><B><FONT SIZE=2><P ALIGN="JUSTIFY"><BR>
</FONT><FONT SIZE=3>NOTE 2: &nbsp;SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</P>
<I><P ALIGN="JUSTIFY">Basis of Accounting and Use of Estimates </B></I>- The accompanying financial statements are prepared on an accrual basis and in conformity with accounting principles generally accepted in the United States of America. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions.  These estimates and assumptions affect the accompanying financial statements and disclosures.  Actual results could differ from these estimates.</P>
<B><I><P ALIGN="JUSTIFY">Investment Valuation and Income Recognition</B> </I>- A participant's interest in the investment funds is represented by participation units allocated on the basis of contributions and assigned a unit value on the basis of the total value of each fund.</P>
<P ALIGN="JUSTIFY">The Plan's investments (except for interest in the Stable Value Fund and Participant Loans) are stated at fair value based on published market quotations.  Fair value for units is determined by quoted prices in active markets on the last business day of the Plan year.  The Plan values investments in the Stable Value Fund and Participant Loans at cost, which approximates fair value.</P>
<P ALIGN="JUSTIFY">Certain of the Plan's investment funds are represented by portfolios of commingled stocks and bond funds.  The portfolios in these investment funds are re-balanced at the beginning of each month based on a pre-defined percentage mix, as outlined in Investment Options in Note 1.  Due to market activity in December 2002, some portfolio's investment allocations varied from the expected pre-defined percentage mix by 1% to 2%.  This varying percentage has no impact on the total investments held or the net assets of the Plan as of December 31, 2002.  The Plan's investments as of December 31, 2001 were consistent with their target mixes as of December 31, 2001.</P>
<P ALIGN="JUSTIFY"></P>
<P ALIGN="JUSTIFY">Interest income, dividends, investment management fees where appropriate, and the net depreciation in the fair value of the investments held by the Plan are allocated to the participant's accounts each day based upon their proportional share of the fund balance.</P>
<P ALIGN="JUSTIFY">Interest income is recognized as it is earned; dividends are recorded on the ex-dividend date.</P>
<P ALIGN="JUSTIFY">Net depreciation in fair value of investments consists of: (1) the net change in unrealized appreciation and depreciation on investments held during the year, and (2) the realized gain or loss recognized on the sale of investments during the year.</P>
<P ALIGN="JUSTIFY">Purchases and sales of securities are recorded on a trade date basis.  Realized gains and losses from security transactions are reported on the average cost basis.</P>
<B><I><P ALIGN="JUSTIFY">Financial Investments with Off-Balance Sheet Risk</B></I> - The EBC adopted a "Position Statement on Risk Management" that applies to the Plan.  This statement recognizes that guidelines for certain plan investment managers allow the use of derivatives to achieve investment objectives.  It is the investment manager's responsibility to understand the potential impact of derivatives on the total investment funds under various market risk scenarios, and to comply with these guidelines.  As with other marketable securities, all derivatives are in the custody of the Trustee and valued daily.  As of and during the years ended December 31, 2002 and 2001, the Plan held no direct investments in derivatives.</P>
<B><P ALIGN="JUSTIFY"></P>
<I><P>Payment of Benefits </B></I>- Benefit payments to participants are recorded upon distribution.</P>
<P><BR>
</P>
<B><P ALIGN="JUSTIFY">NOTE 3: &nbsp;INVESTMENTS</P>
<P ALIGN="JUSTIFY"></P>
<I><P ALIGN="JUSTIFY">General</I> </B>- The Plan's investment funds are managed by the Trustee or an investment manager, who has discretionary investment authority over the funds.  These Plan investment funds consist of various underlying investments. The EBC is responsible for the selection of the Plan's investment funds but not the selection of the underlying investments. Neither the EBC nor the Company is involved in the Plan's investment funds day-to-day investment operations.</P>
</FONT><FONT SIZE=2><P ALIGN="JUSTIFY"></P>
</FONT><B><I><FONT SIZE=3><P ALIGN="JUSTIFY">Fund Information</FONT><FONT SIZE=2> </B></I>-<B><I> </B></I></FONT><FONT SIZE=3>The following individual investments at fair value represented 5 percent or more of net assets of the Plan (in thousands):</P>
<P ALIGN="JUSTIFY"></P></FONT>
<P ALIGN="LEFT"><TABLE CELLSPACING=0 BORDER=0 WIDTH=558>
<TR><TD WIDTH="65%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="32%" VALIGN="TOP" COLSPAN=3>
<B><FONT SIZE=3><P ALIGN="CENTER">As of December 31,</B></FONT></TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<B><FONT SIZE=3><P ALIGN="CENTER">2002</B></FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP">
<B><FONT SIZE=3><P ALIGN="CENTER">2001</B></FONT></TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=3><P ALIGN="JUSTIFY">PG&amp;E Corporation Common Stock</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=3><P ALIGN="RIGHT">$</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=3><P ALIGN="RIGHT">343,313</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=3><P ALIGN="RIGHT">$</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=3><P ALIGN="RIGHT">421,608</FONT></TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=3><P ALIGN="JUSTIFY">PG&amp;E Primco GIC Pool</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=3><P ALIGN="RIGHT">297,846</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=3><P ALIGN="RIGHT">253,032</FONT></TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=3><P ALIGN="JUSTIFY">SSGA Passive Bond Market Index Fund</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=3><P ALIGN="RIGHT">72,099</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=3><P ALIGN="RIGHT">-</FONT></TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=3><P ALIGN="JUSTIFY">SSGA Russell Special Small Co Fund</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=3><P ALIGN="RIGHT">-</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=3><P ALIGN="RIGHT">68,768</FONT></TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=3><P ALIGN="JUSTIFY">SSGA S&amp;P 500 Flagship Index Fund</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=3><P ALIGN="RIGHT">292,731</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=3><P ALIGN="RIGHT">402,426</FONT></TD>
</TR>
</TABLE>
</P>

<FONT SIZE=3><P ALIGN="JUSTIFY"></P>
<P ALIGN="JUSTIFY">Net appreciation (depreciation) in fair value of investments (including investments purchased, sold, as well as held during the year) is as follows (in thousands):</P>
<P ALIGN="JUSTIFY"></P></FONT>
<P ALIGN="LEFT"><TABLE CELLSPACING=0 BORDER=0 WIDTH=570>
<TR><TD WIDTH="62%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="35%" VALIGN="TOP" COLSPAN=3>
<B><FONT SIZE=3><P ALIGN="CENTER">Years ended December 31,</B></FONT></TD>
</TR>
<TR><TD WIDTH="62%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="16%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="4%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
<TR><TD WIDTH="62%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="16%" VALIGN="TOP">
<B><FONT SIZE=3><P ALIGN="CENTER">2002</B></FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<B><FONT SIZE=3><P ALIGN="CENTER">2001</B></FONT></TD>
</TR>
<TR><TD WIDTH="62%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="16%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
<TR><TD WIDTH="62%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="16%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="62%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=3><P ALIGN="JUSTIFY">U. S. equity instruments</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=3><P ALIGN="RIGHT">$</FONT></TD>
<TD WIDTH="16%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=3><P ALIGN="RIGHT">(186,213)</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=3><P ALIGN="RIGHT">$</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=3><P ALIGN="RIGHT">(62,615)</FONT></TD>
</TR>
<TR><TD WIDTH="62%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=3><P ALIGN="JUSTIFY">Non-U.S. equity instruments</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="16%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=3><P ALIGN="RIGHT">(3,964)</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=3><P ALIGN="RIGHT">(7,055)</FONT></TD>
</TR>
<TR><TD WIDTH="62%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=3><P ALIGN="JUSTIFY">U.S. government securities</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="16%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=3><P ALIGN="RIGHT">(8)</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=3><P ALIGN="RIGHT">(706)</FONT></TD>
</TR>
<TR><TD WIDTH="62%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=3><P ALIGN="JUSTIFY">Fixed income - other</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="16%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=3><P ALIGN="RIGHT">20,190</FONT><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=3><P ALIGN="RIGHT">18,623&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="62%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="16%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
<TR><TD WIDTH="62%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="16%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" HEIGHT=17><P></P></TD>
</TR>
<TR><TD WIDTH="62%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=3><P ALIGN="JUSTIFY">Net depreciation in fair value of investments</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=3><P ALIGN="RIGHT">$</FONT></TD>
<TD WIDTH="16%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=3><P ALIGN="RIGHT">(169,995)</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=3><P ALIGN="RIGHT">$</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=3><P ALIGN="RIGHT">(51,753)</FONT></TD>
</TR>
<TR><TD WIDTH="62%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="16%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
<TR><TD WIDTH="62%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="16%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" HEIGHT=1><P></P></TD>
</TR>
<TR><TD WIDTH="62%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="16%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
</TABLE>
</P>

<B><FONT SIZE=3><P ALIGN="JUSTIFY"></P>
<P ALIGN="JUSTIFY"><BR>
<BR>
NOTE 4:</B>  <B>RELATED-PARTY TRANSACTIONS</P>
<P ALIGN="JUSTIFY"></P>
</B><P>Certain plan investments are shares of funds managed by the Trustee.  The Plan also invests in PG&amp;E Corporation Common Stock.  These transactions qualify as party-in-interest transactions (see Schedule H, Line 4i - Schedule of Assets Held at End of Year) under the ERISA regulations.<BR>
<BR>
<BR>
</P>
<B><P ALIGN="JUSTIFY">NOTE 5: &nbsp;TAX STATUS</P>
<U><P ALIGN="JUSTIFY"></P>
</B></U><P ALIGN="JUSTIFY">The Internal Revenue Service (IRS) had ruled, that the Plan is a qualified tax-exempt plan under Section 401(a) and Section 409(a) of the Code and the trust forming a part thereof is exempt under Section 501(a) of the Code.  Accordingly, no provision for federal income taxes has been made to the financial statements.  Furthermore, participating employees are not liable for federal income tax on amounts allocated to their accounts attributable to:  (1) employee 401(k) contributions, (2) reinvested dividends, earnings, and interest income on both 401(k) contributions and non-401 (k) contributions, or (3) employer contributions, until the time that they withdraw such amounts from the Plan.</P>
<P ALIGN="JUSTIFY"></P>
<P ALIGN="JUSTIFY">The Company received a favorable tax determination letter from the IRS in November 1995 and March 2003.  The Company believes that the Plan is designed and continues to operate in accordance with the applicable requirements of the Code.</P>
<P ALIGN="JUSTIFY"><BR>
</P>
<B><P ALIGN="JUSTIFY">NOTE 6: &nbsp;CHAPTER 11 BANKRUPTCY FILING</P>
</B><P ALIGN="JUSTIFY">On April 6, 2001,</FONT><FONT SIZE=2> </FONT><FONT SIZE=3>the Company sought protection from its creditors through a Chapter 11 bankruptcy filing in the United States Bankruptcy Court for the Northern District of California, San Francisco Division (Bankruptcy Court).  Subsequently, the Company and the Corporation jointly, and the California Public Utilities Commission (CPUC) filed competing plans of reorganization as amended, with the Bankruptcy Court.  Any plan of reorganization is subject to confirmation by the Bankruptcy Court before it can become effective, and the confirmation hearing, which commenced in November 2002, was stayed by orders of the Bankruptcy Court until June 20, 2003.  On June 19, 2003, the staff of the CPUC, the Company, and the Corporation jointly proposed a settlement agreement that would resolve the competing plans of reorganization in the Company's Chapter 11 proceeding and end litigation between the Company, the Corporation, and the CPUC relating to the energy crisis. </P>
<P ALIGN="JUSTIFY">Under the provisions of the proposed settlement agreement, it is expected that the Company would emerge from Chapter 11 protection in early 2004 as a vertically integrated utility, subject to the traditional rulemaking jurisdiction of the CPUC.  It is also expected that the Company would be an investment grade company, capable of fulfilling its obligations to serve its customers and operating safely and reliably on a sound financial basis going forward.</P>
<P ALIGN="JUSTIFY">The proposed settlement agreement will be subject to extensive public review and hearings before the CPUC, and a vote of the CPUC.  The proposed settlement agreement is also subject to the approval of the boards of directors of the Corporation and the Company.  If all such approvals have not been received by December 31, 2003, any party may terminate the proposed settlement agreement.  In addition, the proposed settlement agreement will be subject to a vote by the creditors and approval of the Bankruptcy Court.  The plan of reorganization contemplated by the proposed settlement agreement will not become effective until (1) Standard &amp; Poor's and Moody's have issued investment grade credit ratings for the Company and the securities issued under the plan, and (2) the CPUC has given final approval for all rates, tariffs, and agreements necessary to implement the plan.</P>
<P ALIGN="JUSTIFY">The Company's bankruptcy filing had no effect on the Plan in 2002 and 2001.</P>
<P ALIGN="JUSTIFY"></P>
<P ALIGN="JUSTIFY"> </P>
<P ALIGN="JUSTIFY"><BR>
<BR>
<BR>
<BR>
</P>

<P>&nbsp;</P>
</FONT><B><FONT SIZE=4><P>PACIFIC GAS AND ELECTRIC COMPANY<BR>
SAVINGS FUND PLAN FOR UNION REPRESENTED EMPLOYEES</P>
</B></FONT><FONT SIZE=2></FONT>
<P ALIGN="RIGHT"><TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=144>
<TR><TD VALIGN="TOP">
<B><FONT SIZE=3><P>EIN     :&#9;94-0742640</B></FONT></TD>
</TR>
<TR><TD VALIGN="TOP">
<B><FONT SIZE=3><P>PLAN :&#9;003</B></FONT></TD>
</TR>
</TABLE>
</P>

<FONT SIZE=2>
</FONT><B><FONT SIZE=3><P>SCHEDULE H Line 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR)<BR>
DECEMBER 31, 2002&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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>
</FONT><FONT SIZE=2><P ALIGN="RIGHT"></P></B></FONT>
<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=3 WIDTH=609>
<TR><TD WIDTH="65%" VALIGN="TOP" COLSPAN=2 BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="6%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP" COLSPAN=2 HEIGHT=17><P></P></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=17><P></P></TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP" COLSPAN=2 HEIGHT=42>
<B><FONT SIZE=2><P><BR>
Identity of Issuer and Description of Investment<BR>
(including Maturity and Yield)</B></FONT></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=42><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=42>
<B><FONT SIZE=2><P ALIGN="CENTER">Number of<BR>
Units or US<BR>
Bonds</B></FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=42><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=42>
<B><FONT SIZE=2><P ALIGN="CENTER"><BR>
Current<BR>
Value</B></FONT></TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP" COLSPAN=2 BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP" COLSPAN=2 HEIGHT=17><P></P></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=17><P></P></TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP" COLSPAN=2 HEIGHT=17>
<FONT SIZE=2><P>PG&amp;E Corporation Stock Fund:</FONT></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=17><P></P></TD>
</TR>
<TR><TD WIDTH="3%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=2><P>*</FONT></TD>
<TD WIDTH="62%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=2><P>PG&amp;E Corporation Common Stock</FONT></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">24,698,756</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">$</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">343,312,708</FONT></TD>
</TR>
<TR><TD WIDTH="3%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=2><P>*</FONT></TD>
<TD WIDTH="62%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=2><P>SSGA Short-Term Investment Fund</FONT></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">18,442,167</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">18,442,167</FONT></TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP" COLSPAN=2 HEIGHT=1><P></P></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP" COLSPAN=2 HEIGHT=17><P></P></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=17><P></P></TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP" COLSPAN=2 HEIGHT=17>
<FONT SIZE=2><P>Total PG&amp;E Corporation Stock Fund</FONT></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">43,140,923</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">361,754,875</FONT></TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP" COLSPAN=2 HEIGHT=1><P></P></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP" COLSPAN=2 HEIGHT=17><P></P></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=17><P></P></TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP" COLSPAN=2 HEIGHT=17>
<FONT SIZE=2><P>Bond Index Fund:</FONT></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=17><P></P></TD>
</TR>
<TR><TD WIDTH="3%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=2><P>*</FONT></TD>
<TD WIDTH="62%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=2><P>SSGA Passive Bond Market Index Fund</FONT></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">3,008,562</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">44,583,885</FONT></TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP" COLSPAN=2 HEIGHT=1><P></P></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP" COLSPAN=2 HEIGHT=17><P></P></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=17><P></P></TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP" COLSPAN=2 HEIGHT=17>
<FONT SIZE=2><P>Small Company Stock Index Fund:</FONT></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=17><P></P></TD>
</TR>
<TR><TD WIDTH="3%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=2><P>*</FONT></TD>
<TD WIDTH="62%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=2><P>SSGA Russell Special Small Co. Fund</FONT></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">4,806,154</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">48,167,274</FONT></TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP" COLSPAN=2 HEIGHT=1><P></P></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP" COLSPAN=2 HEIGHT=17><P></P></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=17><P></P></TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP" COLSPAN=2 HEIGHT=17>
<FONT SIZE=2><P>Large Company Stock Index Fund:</FONT></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=17><P></P></TD>
</TR>
<TR><TD WIDTH="3%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=2><P>*</FONT></TD>
<TD WIDTH="62%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=2><P>SSGA S&amp;P 500 Index Fund</FONT></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">1,693,994</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">262,465,728</FONT></TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP" COLSPAN=2 HEIGHT=1><P></P></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP" COLSPAN=2 HEIGHT=17><P></P></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=17><P></P></TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP" COLSPAN=2 HEIGHT=17>
<FONT SIZE=2><P>International Stock Index Fund:</FONT></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=17><P></P></TD>
</TR>
<TR><TD WIDTH="3%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=2><P>*</FONT></TD>
<TD WIDTH="62%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=2><P>SSGA Daily EAFE Fund</FONT></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">1,387,197</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">12,351,602</FONT></TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP" COLSPAN=2 HEIGHT=1><P></P></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP" COLSPAN=2 HEIGHT=17><P></P></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=17><P></P></TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP" COLSPAN=2 HEIGHT=17>
<FONT SIZE=2><P>Conservative Asset Allocation Fund:</FONT></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=17><P></P></TD>
</TR>
<TR><TD WIDTH="3%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=2><P>*</FONT></TD>
<TD WIDTH="62%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=2><P>SSGA Daily EAFE Fund</FONT></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">61,786</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">550,141</FONT></TD>
</TR>
<TR><TD WIDTH="3%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=2><P>*</FONT></TD>
<TD WIDTH="62%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=2><P>SSGA Passive Bond Market Index Fund</FONT></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">470,834</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">6,977,287</FONT></TD>
</TR>
<TR><TD WIDTH="3%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=2><P>*</FONT></TD>
<TD WIDTH="62%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=2><P>SSGA Russell Special Small Co. Fund</FONT></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">54,245</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">543,640</FONT></TD>
</TR>
<TR><TD WIDTH="3%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=2><P>*</FONT></TD>
<TD WIDTH="62%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=2><P>SSGA S&amp;P 500 Flagship Index Fund</FONT></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">20,740</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">3,213,444</FONT></TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP" COLSPAN=2 HEIGHT=1><P></P></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP" COLSPAN=2 HEIGHT=17><P></P></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=17><P></P></TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP" COLSPAN=2 HEIGHT=17>
<FONT SIZE=2><P>Total Conservative Asset Allocation Fund</FONT></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">607,605</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">11,284,512</FONT></TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP" COLSPAN=2 HEIGHT=1><P></P></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP" COLSPAN=2 HEIGHT=17><P></P></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=17><P></P></TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP" COLSPAN=2 HEIGHT=17>
<FONT SIZE=2><P>Moderate Asset Allocation Fund:</FONT></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=17><P></P></TD>
</TR>
<TR><TD WIDTH="3%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=2><P>*</FONT></TD>
<TD WIDTH="62%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=2><P>SSGA Daily EAFE Fund</FONT></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">429,163</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">3,821,271</FONT></TD>
</TR>
<TR><TD WIDTH="3%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=2><P>*</FONT></TD>
<TD WIDTH="62%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=2><P>SSGA Passive Bond Market Index Fund</FONT></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">1,082,938</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">16,048,054</FONT></TD>
</TR>
<TR><TD WIDTH="3%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=2><P>*</FONT></TD>
<TD WIDTH="62%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=2><P>SSGA Russell Special Small Co. Fund</FONT></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">301,427</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">3,020,897</FONT></TD>
</TR>
<TR><TD WIDTH="3%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=2><P>*</FONT></TD>
<TD WIDTH="62%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=2><P>SSGA S&amp;P 500 Flagship Index Fund</FONT></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">100,842</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">15,624,386</FONT></TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP" COLSPAN=2 HEIGHT=1><P></P></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP" COLSPAN=2 HEIGHT=17><P></P></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=17><P></P></TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP" COLSPAN=2 HEIGHT=17>
<FONT SIZE=2><P>Total Moderate Asset Allocation Fund</FONT></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">1,914,370</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">38,514,608</FONT></TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP" COLSPAN=2 HEIGHT=1><P></P></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
</TABLE>

<FONT SIZE=2>
<P>&nbsp;</P>
</FONT><B><FONT SIZE=4><P>PACIFIC GAS AND ELECTRIC COMPANY<BR>
SAVINGS FUND PLAN FOR UNION REPRESENTED EMPLOYEES</P>
</B></FONT><FONT SIZE=2></FONT>
<P ALIGN="RIGHT"><TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=144>
<TR><TD VALIGN="TOP">
<B><FONT SIZE=3><P>EIN     :&#9;94-0742640</B></FONT></TD>
</TR>
<TR><TD VALIGN="TOP">
<B><FONT SIZE=3><P>PLAN :&#9;003</B></FONT></TD>
</TR>
</TABLE>
</P>

<B><FONT SIZE=3>
</FONT><FONT SIZE=3><P>SCHEDULE H Line 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR)<BR>
DECEMBER 31, 2002&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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>
</B></FONT><FONT SIZE=2></FONT>
<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=3 WIDTH=606>
<TR><TD WIDTH="64%" VALIGN="TOP" COLSPAN=3 BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="6%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
<TR><TD WIDTH="64%" VALIGN="TOP" COLSPAN=3 HEIGHT=15><P></P></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=15><P></P></TD>
</TR>
<TR><TD WIDTH="64%" VALIGN="TOP" COLSPAN=3 HEIGHT=15>
<B><FONT SIZE=2><P><BR>
Identity of Issuer and Description of Investment<BR>
(including Maturity and Yield)</B></FONT></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=15>
<B><FONT SIZE=2><P ALIGN="CENTER">Number of<BR>
Units or US<BR>
Bonds</B></FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=15>
<B><FONT SIZE=2><P ALIGN="CENTER"><BR>
Current<BR>
Value</B></FONT></TD>
</TR>
<TR><TD WIDTH="64%" VALIGN="TOP" COLSPAN=3 BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
<TR><TD WIDTH="64%" VALIGN="TOP" COLSPAN=3 HEIGHT=15><P></P></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=15><P></P></TD>
</TR>
<TR><TD WIDTH="64%" VALIGN="TOP" COLSPAN=3 HEIGHT=15>
<FONT SIZE=2><P>Aggressive Asset Allocation Fund:</FONT></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=15><P></P></TD>
</TR>
<TR><TD WIDTH="2%" VALIGN="TOP" HEIGHT=15>
<FONT SIZE=2><P>*</FONT></TD>
<TD WIDTH="62%" VALIGN="TOP" COLSPAN=2 HEIGHT=15>
<FONT SIZE=2><P>SSGA Daily EAFE Fund</FONT></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=15>
<FONT SIZE=2><P ALIGN="RIGHT">359,524</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=15>
<FONT SIZE=2><P ALIGN="RIGHT">$</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=15>
<FONT SIZE=2><P ALIGN="RIGHT">3,201,205</FONT></TD>
</TR>
<TR><TD WIDTH="2%" VALIGN="TOP" HEIGHT=15>
<FONT SIZE=2><P>*</FONT></TD>
<TD WIDTH="62%" VALIGN="TOP" COLSPAN=2 HEIGHT=15>
<FONT SIZE=2><P>SSGA Passive Bond Market Index Fund</FONT></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=15>
<FONT SIZE=2><P ALIGN="RIGHT">302,991</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=15>
<FONT SIZE=2><P ALIGN="RIGHT">4,490,021</FONT></TD>
</TR>
<TR><TD WIDTH="2%" VALIGN="TOP" HEIGHT=15>
<FONT SIZE=2><P>*</FONT></TD>
<TD WIDTH="62%" VALIGN="TOP" COLSPAN=2 HEIGHT=15>
<FONT SIZE=2><P>SSGA Russell Special Small Co. Fund</FONT></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=15>
<FONT SIZE=2><P ALIGN="RIGHT">210,429</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=15>
<FONT SIZE=2><P ALIGN="RIGHT">2,108,921</FONT></TD>
</TR>
<TR><TD WIDTH="2%" VALIGN="TOP" HEIGHT=15>
<FONT SIZE=2><P>*</FONT></TD>
<TD WIDTH="62%" VALIGN="TOP" COLSPAN=2 HEIGHT=15>
<FONT SIZE=2><P>SSGA S&amp;P 500 Flagship Index Fund</FONT></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=15>
<FONT SIZE=2><P ALIGN="RIGHT">73,751</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=15>
<FONT SIZE=2><P ALIGN="RIGHT">11,426,962</FONT></TD>
</TR>
<TR><TD WIDTH="64%" VALIGN="TOP" COLSPAN=3 HEIGHT=1><P></P></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
<TR><TD WIDTH="64%" VALIGN="TOP" COLSPAN=3 HEIGHT=16><P></P></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=16><P></P></TD>
</TR>
<TR><TD WIDTH="64%" VALIGN="TOP" COLSPAN=3 HEIGHT=16>
<FONT SIZE=2><P>Total Aggressive Asset Allocation Fund</FONT></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=16>
<FONT SIZE=2><P ALIGN="RIGHT">946,695</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=16>
<FONT SIZE=2><P ALIGN="RIGHT">21,227,109</FONT></TD>
</TR>
<TR><TD WIDTH="64%" VALIGN="TOP" COLSPAN=3 HEIGHT=1><P></P></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
<TR><TD WIDTH="64%" VALIGN="TOP" COLSPAN=3 HEIGHT=16><P></P></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=16><P></P></TD>
</TR>
<TR><TD WIDTH="64%" VALIGN="TOP" COLSPAN=3 HEIGHT=15>
<FONT SIZE=2><P>United States Bond Fund:</FONT></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=15><P></P></TD>
</TR>
<TR><TD WIDTH="2%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="62%" VALIGN="TOP" COLSPAN=2 HEIGHT=15>
<FONT SIZE=2><P>United States Savings Bonds </FONT></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=15><P></P></TD>
</TR>
<TR><TD WIDTH="2%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="2%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="60%" VALIGN="TOP" HEIGHT=15>
<FONT SIZE=2><P>(Units of $18.75 Cost and $25.00 Maturity)</FONT></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=15>
<FONT SIZE=2><P ALIGN="RIGHT">2,271</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=15>
<FONT SIZE=2><P ALIGN="RIGHT">222,853</FONT></TD>
</TR>
<TR><TD WIDTH="2%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="62%" VALIGN="TOP" COLSPAN=2 HEIGHT=15>
<FONT SIZE=2><P>United States Savings Bonds </FONT></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=15><P></P></TD>
</TR>
<TR><TD WIDTH="2%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="2%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="60%" VALIGN="TOP" HEIGHT=15>
<FONT SIZE=2><P>(Units of $25.00 Cost and $50.00 Maturity)</FONT></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=15>
<FONT SIZE=2><P ALIGN="RIGHT">24,742</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=15>
<FONT SIZE=2><P ALIGN="RIGHT">1,428,261</FONT></TD>
</TR>
<TR><TD WIDTH="2%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="62%" VALIGN="TOP" COLSPAN=2 HEIGHT=15>
<FONT SIZE=2><P>United States Savings Bonds </FONT></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=15><P></P></TD>
</TR>
<TR><TD WIDTH="2%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="2%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="60%" VALIGN="TOP" HEIGHT=15>
<FONT SIZE=2><P>(Units of $50.00 Cost and $100.00 Maturity)</FONT></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=15>
<FONT SIZE=2><P ALIGN="RIGHT">2,568</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=15>
<FONT SIZE=2><P ALIGN="RIGHT">243,362</FONT></TD>
</TR>
<TR><TD WIDTH="64%" VALIGN="TOP" COLSPAN=3 HEIGHT=1><P></P></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
<TR><TD WIDTH="64%" VALIGN="TOP" COLSPAN=3 HEIGHT=16><P></P></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=16><P></P></TD>
</TR>
<TR><TD WIDTH="64%" VALIGN="TOP" COLSPAN=3 HEIGHT=16>
<FONT SIZE=2><P>Total United States Bond Fund</FONT></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=16>
<FONT SIZE=2><P ALIGN="RIGHT">29,581</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=16>
<FONT SIZE=2><P ALIGN="RIGHT">1,894,476</FONT></TD>
</TR>
<TR><TD WIDTH="64%" VALIGN="TOP" COLSPAN=3 HEIGHT=1><P></P></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
<TR><TD WIDTH="64%" VALIGN="TOP" COLSPAN=3 HEIGHT=16><P></P></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=16><P></P></TD>
</TR>
<TR><TD WIDTH="64%" VALIGN="TOP" COLSPAN=3 HEIGHT=15>
<FONT SIZE=2><P>Stable Value Fund <SUP>(1)</SUP>:</FONT></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=15><P></P></TD>
</TR>
<TR><TD WIDTH="2%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="62%" VALIGN="TOP" COLSPAN=2 HEIGHT=15>
<FONT SIZE=2><P>PG&amp;E Primco GIC Pool</FONT></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=15>
<FONT SIZE=2><P ALIGN="CENTER">NA</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=15>
<FONT SIZE=2><P ALIGN="RIGHT">297,845,960</FONT></TD>
</TR>
<TR><TD WIDTH="64%" VALIGN="TOP" COLSPAN=3 HEIGHT=1><P></P></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
<TR><TD WIDTH="64%" VALIGN="TOP" COLSPAN=3 HEIGHT=16><P></P></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=16><P></P></TD>
</TR>
<TR><TD WIDTH="64%" VALIGN="TOP" COLSPAN=3 HEIGHT=16>
<FONT SIZE=2><P>Participants Loans (Interest rates ranging from 5.75 % to 10.50%)</FONT></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=16>
<FONT SIZE=2><P ALIGN="CENTER">NA</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=16>
<FONT SIZE=2><P ALIGN="RIGHT">19,172,310</FONT></TD>
</TR>
<TR><TD WIDTH="64%" VALIGN="TOP" COLSPAN=3 HEIGHT=1><P></P></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
<TR><TD WIDTH="64%" VALIGN="TOP" COLSPAN=3 HEIGHT=16><P></P></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=16><P></P></TD>
</TR>
<TR><TD WIDTH="64%" VALIGN="TOP" COLSPAN=3 HEIGHT=16>
<FONT SIZE=2><P>Total Assets Held at End of Year</FONT></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=16>
<FONT SIZE=2><P ALIGN="RIGHT">$</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=16>
<FONT SIZE=2><P ALIGN="RIGHT">1,119,262,339</FONT></TD>
</TR>
<TR><TD WIDTH="64%" VALIGN="TOP" COLSPAN=3 HEIGHT=1><P></P></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=1><P></P></TD>
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<FONT SIZE=2>
<P>&nbsp;</P>
</FONT><SUP><FONT FACE="Times" SIZE=2><P>(1)</SUP>&nbsp;&nbsp;</FONT><FONT SIZE=2>The Stable Value Fund investment contracts and participant loans are not measured in numbers of units and<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;therefore unit information is not applicable (N/A)<BR>
</P>
<P>*&nbsp;&nbsp;Represents a party-in-interest as defined by ERISA</P>

<P>&nbsp;</P>
<P>&nbsp;</P>
</FONT><FONT SIZE=2><P>&nbsp;</P></FONT></BODY>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>4
<FILENAME>utilitysfppconsent_02.htm
<DESCRIPTION>INDEPENDENT AUDITORS' CONSENT LETTER
<TEXT>
<HTML>
<HEAD>
<META NAME="Generator" CONTENT="Microsoft Word 97">
<TITLE>EXHIBIT 2</TITLE>
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<FONT SIZE=3><P ALIGN="CENTER">EXHIBIT 2</P>

<P>&nbsp;</P>
<P>INDEPENDENT AUDITORS' CONSENT</P>

<P>We consent to the incorporation by reference in Registration Statement No. 333-46772 of PG&amp;E Corporation on Form S-8 of our report dated May 13, 2003, except for Note 6, for which the date is June 19, 2003, appearing in the Annual Report on Form 11-K of the Pacific Gas and Electric Company Savings Fund Plan for Union Represented Employees for the year ended December 31, 2002.</P>

<P>&nbsp;</P>
<P>/s/&nbsp;&nbsp;Mah &amp; Associates, LLP</P>

<P>San Francisco, California<BR>
June 27, 2003</P>

<P>&nbsp;</P>
<P>&nbsp;</P>
<P>&nbsp;</P></FONT></BODY>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.3
<SEQUENCE>5
<FILENAME>utilitysfp_906cert.htm
<DESCRIPTION>CERT OF THE CEO AND THE CFO
<TEXT>
<HTML>
<HEAD>
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<TITLE>EXHIBIT 3</TITLE>
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<P ALIGN="CENTER">EXHIBIT 3</P>
<B><P ALIGN="CENTER"></P>
<P>&nbsp;</P>
<FONT SIZE=4><P ALIGN="CENTER">CERTIFICATION OF CHIEF EXECUTIVE OFFICER AND<BR>
CHIEF FINANCIAL OFFICER<BR>
PURSUANT TO 18 U.S.C. SECTION 1350<BR>
</P>
</B></FONT>
<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In connection with the accompanying Annual Report on Form 11-K of The Pacific Gas and Electric Company Savings Fund Plan for Union Represented Employees (the Plan) for the period ended December 31, 2002, I, Bruce R. Worthington, Chairman of the PG&amp;E Corporation Employee Benefit Committee, which is authorized to oversee administration and financial management of the Plan, hereby certify pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, to the best of my knowledge and belief, that:</P>

<P ALIGN="CENTER"><CENTER><TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=469>
<TR><TD WIDTH="10%" VALIGN="TOP" HEIGHT=44>
<P>(1)</TD>
<TD WIDTH="90%" VALIGN="TOP" HEIGHT=44>
<P>such Annual Report on Form 11-K for the period ended December 31, 2002, fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and<BR>
</TD>
</TR>
<TR><TD WIDTH="10%" VALIGN="TOP" HEIGHT=54>
<P>(2)</TD>
<TD WIDTH="90%" VALIGN="TOP" HEIGHT=54>
<P>the information contained in such Annual Report on Form 11-K for the period ended December 31, 2002, fairly presents, in all material respects, the financial condition and results of operations of the Plan.</TD>
</TR>
</TABLE>
</CENTER></P>


<P>&nbsp;</P>
<P><BR>
<BR>
</P>
<P ALIGN="RIGHT"><TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=343>
<TR><TD VALIGN="TOP">

<P>/S/ BRUCE R. WORTHINGTON</TD>
</TR>
<TR><TD VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
<TR><TD VALIGN="TOP" HEIGHT=73>
<P>BRUCE R. WORTHINGTON<BR>
Chairman<BR>
PG&amp;E Corporation Employee Benefit Committee</P>
</TD>
</TR>
</TABLE>
</P>

<P>June 27, 2003</P>

<P>&nbsp;</P>
<P>&nbsp;</P>
<FONT FACE="Verdana" SIZE=2 COLOR="#808080"><P>A signed original of this written statement required by Section 906 has been provided to the Plan and will be retained by the Plan and furnished to the Securities and Exchange Commission or its staff upon request.</P>
</FONT></BODY>
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</SUBMISSION>
