<SUBMISSION>
<ACCESSION-NUMBER>0001004980-03-000230
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>2
<PERIOD>20031003
<ITEMS>9
<FILING-DATE>20031003
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>PG&E CORP
<CIK>0001004980
<ASSIGNED-SIC>4931
<IRS-NUMBER>943234914
<STATE-OF-INCORPORATION>CA
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>001-12609
<FILM-NUMBER>03928351
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>ONE MARKET SPEAR TOWER
<STREET2>SUITE 2400
<CITY>SAN FRANCISCO
<STATE>CA
<ZIP>94105
<PHONE>4152677000
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>ONE MARKET SPEAR TOWER
<STREET2>SUITE 2400
<CITY>SAN FRANCISCO
<STATE>CA
<ZIP>94105
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>PG&E PARENT CO INC
<DATE-CHANGED>19951214
</FORMER-COMPANY>
</FILER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>pge8k_100303.htm
<DESCRIPTION>PG&E 8-K OCTOBER 3, 2003
<TEXT>
<HTML>
<HEAD>
<META NAME="Generator" CONTENT="Microsoft Word 97">
<TITLE>SECURITIES AND EXCHANGE COMMISSION</TITLE>
</HEAD>
<BODY>


<TABLE CELLSPACING=0 BORDER=0 WIDTH=643>
<TR><TD VALIGN="TOP" COLSPAN=4>
<P ALIGN="CENTER">SECURITIES AND EXCHANGE COMMISSION</TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=4>
<P ALIGN="CENTER"><BR>
</TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=4>
<P ALIGN="CENTER">Washington, D.C.  20549</TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=4>
<P ALIGN="CENTER"><BR>
</TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=4>&nbsp;</TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=4>
<P ALIGN="CENTER">FORM 8-K</TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=4>
<P ALIGN="CENTER"><BR>
</TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=4>
<P ALIGN="CENTER">CURRENT REPORT</TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=4>
<P ALIGN="CENTER"><BR>
</TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=4>
<P ALIGN="CENTER">Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=4>
<P ALIGN="CENTER"><BR>
</TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=4>
<P ALIGN="CENTER">Date of Report: October 3, 2003</TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=4>
<P><BR>
</TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=4>
<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
</TR>
<TR><TD WIDTH="25%" VALIGN="TOP">
<P ALIGN="CENTER"><BR>
Commission<BR>
File<BR>
Number</TD>
<TD WIDTH="25%" VALIGN="TOP">
<P ALIGN="CENTER">Exact Name of<BR>
Registrant<BR>
as specified in<BR>
its charter</TD>
<TD WIDTH="25%" VALIGN="TOP">
<P ALIGN="CENTER"><BR>
State or other<BR>
Jurisdiction of<BR>
Incorporation</TD>
<TD WIDTH="25%" VALIGN="TOP">
<P ALIGN="CENTER"><BR>
IRS Employer<BR>
 Identification<BR>
Number</TD>
</TR>
<TR><TD WIDTH="25%" VALIGN="TOP">
<P ALIGN="CENTER">_____________</TD>
<TD WIDTH="25%" VALIGN="TOP">
<P ALIGN="CENTER">_____________</TD>
<TD WIDTH="25%" VALIGN="TOP">
<P ALIGN="CENTER">_____________</TD>
<TD WIDTH="25%" VALIGN="TOP">
<P ALIGN="CENTER">_____________</TD>
</TR>
<TR><TD WIDTH="25%" VALIGN="TOP">
<P ALIGN="CENTER">1-12609</P>
<P ALIGN="CENTER">1-2348</TD>
<TD WIDTH="25%" VALIGN="TOP">
<P ALIGN="CENTER">PG&amp;E Corporation</P>
<P ALIGN="CENTER">Pacific Gas and <BR>
Electric Company</TD>
<TD WIDTH="25%" VALIGN="TOP">
<P ALIGN="CENTER">California</P>
<P ALIGN="CENTER">California</TD>
<TD WIDTH="25%" VALIGN="TOP">
<P ALIGN="CENTER">94-3234914</P>
<P ALIGN="CENTER">94-0742640</P>
<P ALIGN="CENTER"><BR>
</TD>
</TR>
<TR><TD WIDTH="25%" VALIGN="TOP">
<P ALIGN="CENTER">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD WIDTH="25%" VALIGN="TOP">
<P ALIGN="CENTER">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD WIDTH="25%" VALIGN="TOP">
<P ALIGN="CENTER">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD WIDTH="25%" VALIGN="TOP">
<P ALIGN="CENTER">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
</TR>
<TR><TD WIDTH="50%" VALIGN="TOP" COLSPAN=2>
<P ALIGN="CENTER">Pacific Gas and Electric Company<BR>
77 Beale Street, P. O. Box 770000<BR>
San Francisco, California&nbsp;&nbsp;94177</TD>
<TD WIDTH="50%" VALIGN="TOP" COLSPAN=2>
<P ALIGN="CENTER">PG&amp;E Corporation<BR>
One Market, Spear Tower, Suite 2400<BR>
San Francisco, California&nbsp;&nbsp;94105</TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=4>
<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=4>
<P ALIGN="CENTER">(Address of principal executive offices) (Zip Code)</TD>
</TR>
<TR><TD WIDTH="25%" VALIGN="TOP">
<P ALIGN="CENTER"><BR>
</TD>
<TD WIDTH="25%" VALIGN="TOP">
<P ALIGN="CENTER">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD WIDTH="25%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="25%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="50%" VALIGN="TOP" COLSPAN=2>
<P ALIGN="CENTER">Pacific Gas and Electric Company<BR>
(415) 973-7000</TD>
<TD WIDTH="50%" VALIGN="TOP" COLSPAN=2>
<P ALIGN="CENTER">PG&amp;E Corporation<BR>
(415) 267-7000</TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=4>
<P ALIGN="CENTER">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=4>
<P ALIGN="CENTER">(Registrant's telephone number, including area code)</TD>
</TR>
<TR><TD WIDTH="25%" VALIGN="TOP">
<P>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD WIDTH="25%" VALIGN="TOP">
<P>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD WIDTH="25%" VALIGN="TOP">
<P>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD WIDTH="25%" VALIGN="TOP">
<P>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
</TR>
</TABLE>

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

<P>Item 9.&#9; Regulation FD Disclosure</P>

<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The information included in this Current Report on Form 8-K, including portions of the Utility's monthly operating report for the month ended August 31, 2003 filed with the U.S. Bankruptcy Court for the Northern District of California (Bankruptcy Court) attached hereto as an exhibit, is being furnished, not filed, pursuant to Item 9 of Form 8-K.</P>
<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On October 1, 2003, the Utility filed its monthly operating report for the month ended August 31, 2003 with the Bankruptcy Court, as required by Section 704(8) of the U.S. Bankruptcy Code and Rule 2015 of the Federal Rules of Bankruptcy Procedure and prepared in accordance with U.S. Trustee Guidelines Region 17.&nbsp; The Utility's monthly operating report includes an unaudited income statement for the month and an unaudited balance sheet dated as of the end of the month.&nbsp; These unaudited financial statements are attached as an exhibit to this report.  Although not included in the exhibit attached to this report, the monthly operating report filed with the Bankruptcy Court also includes a statement of receipts and disbursements, as well as other information.&nbsp; The preliminary financial statements were prepared using certain assumptions and estimates that are subject to revision.&nbsp; Any adjustments for these estimates (based upon changes in facts and circumstances, further analysis, and other factors) will be reflected in the financial statements in the period during which such adjustments are made.&nbsp; These adjustments could have a material impact on reported results in the future.</P>
<P>&nbsp;</P>
<P>&nbsp;</P>
<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=583>
<TR><TD WIDTH="47%" VALIGN="TOP">
<P>&nbsp;</P>
<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;</TD>
<TD WIDTH="53%" VALIGN="TOP">
<B><P>SIGNATURE</B></TD>
</TR>
</TABLE>


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

<P>&nbsp;</P>
<P>&nbsp;</P>
<TABLE CELLSPACING=0 BORDER=0 WIDTH=684>
<TR><TD WIDTH="47%" VALIGN="TOP">
<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD WIDTH="53%" VALIGN="TOP" COLSPAN=2>
<P>PG&amp;E CORPORATION<BR>
<BR>
</TD>
</TR>
<TR><TD WIDTH="47%" VALIGN="TOP">
<P>                                                        </TD>
<TD WIDTH="53%" VALIGN="TOP" COLSPAN=2>
<P>By:  /s/ CHRISTOPHER P. JOHNS</TD>
</TR>
<TR><TD WIDTH="47%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="49%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
<TR><TD WIDTH="47%" VALIGN="TOP">
<P>                                                        </TD>
<TD WIDTH="53%" VALIGN="TOP" COLSPAN=2>
<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CHRISTOPHER P. JOHNS <FONT SIZE=3><BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Senior Vice President and Controller </P>
</FONT><P><BR>
<BR>
</TD>
</TR>
<TR><TD WIDTH="47%" VALIGN="TOP">
<P>                                                        </TD>
<TD WIDTH="53%" VALIGN="TOP" COLSPAN=2>&nbsp;</TD>
</TR>
<TR><TD WIDTH="47%" VALIGN="TOP" HEIGHT=52>
<P>                                                        </TD>
<TD WIDTH="53%" VALIGN="TOP" COLSPAN=2 HEIGHT=52>
<P>PACIFIC GAS AND ELECTRIC COMPANY<BR>
<BR>
</TD>
</TR>
<TR><TD WIDTH="47%" VALIGN="TOP">
<P>                                                        </TD>
<TD WIDTH="53%" VALIGN="TOP" COLSPAN=2>
<P>By:&nbsp;&nbsp;/s/ KENT M. HARVEY</TD>
</TR>
<TR><TD WIDTH="47%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="49%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
<TR><TD WIDTH="47%" VALIGN="TOP">
<P>                                                        </TD>
<TD WIDTH="53%" VALIGN="TOP" COLSPAN=2>
<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KENT M. HARVEY </P>
<FONT SIZE=3><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Senior Vice President, Chief Financial Officer and  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Treasurer </FONT></TD>
</TR>
</TABLE>


<P>Dated:  October 3, 2003</P>

<P ALIGN="CENTER">&nbsp;</P>
<B><P ALIGN="CENTER">Exhibit Index</P>
</B><P ALIGN="CENTER"></P>
<P ALIGN="CENTER">&nbsp;</P>
<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=607>
<TR><TD WIDTH="17%" VALIGN="TOP" HEIGHT=55>
<P>Exhibit 1:&nbsp;&nbsp;&nbsp;</TD>
<TD WIDTH="8%" VALIGN="TOP" HEIGHT=55>
<P>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD WIDTH="75%" VALIGN="TOP" HEIGHT=55>
<P>Pacific Gas and Electric Company Income Statement for the month ended August 31, 2003, and Balance Sheet dated August 31, 2003</TD>
</TR>
</TABLE>

</BODY>
</HTML>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-1
<SEQUENCE>4
<FILENAME>exhibit1augustmor.htm
<DESCRIPTION>MONTHLY OPERATING REPORT - AUGUST 2003
<TEXT>
<html>
<head>
<title>August 2003 Monthly Operarting Report</title>
</head>
<body>
<div>
<p align="right"><font size="3" face="Arial">Exhibit
1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="583">
<tr height="17">
<td nowrap colspan="4" height="17" valign="bottom">
<p align="center"><b><font size="2" face="Arial">PACIFIC GAS AND
ELECTRIC COMPANY</font></b></p>
</td>
</tr>

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

<tr height="17">
<td nowrap colspan="4" height="17" valign="bottom">
<p align="center"><b><font size="2" face="Arial">AS OF AUGUST 31,
2003</font></b></p>
</td>
</tr>

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

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

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom">
<p align="center"><b><font size="2" face="Arial">August,
2003</font></b></p>
</td>
</tr>

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

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

<tr height="17">
<td nowrap height="17" valign="bottom">
<p><font size="2" face="Times New Roman">&nbsp;&nbsp;</font></p>
</td>
<td nowrap colspan="2" height="17" valign="bottom">
<p><font size="2" face="Arial">Cash and cash equivalents</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face="Arial">&nbsp;
$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
4,061</font></p>
</td>
</tr>

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

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom">
<p><font size="2" face="Times New Roman">&nbsp;&nbsp;</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p><font size="2" face="Arial">Customers (net of allowance for
doubtful accounts of $63 million)</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
1,769</font></p>
</td>
</tr>

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

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

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

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

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

<tr>
<td nowrap valign="bottom"></td>
<td nowrap colspan="2" valign="bottom">
<p><font size="2" face="Arial">Income taxes receivable</font></p>
</td>
<td nowrap valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
-&nbsp;&nbsp;</font></p>
</td>
</tr>

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

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap colspan="2" height="17" valign="bottom">
<p><font size="2" face="Arial">Assets from price risk
management</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><u><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
11</font></u></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap colspan="2" height="17" valign="bottom">
<p><b><font size="2" face="Arial">Total current
assets</font></b></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><b><font size="2" face=
"Arial">6,456</font></b></p>
</td>
</tr>

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

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

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap colspan="2" height="17" valign="bottom">
<p><font size="2" face="Arial">Electric</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
20,192</font></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap colspan="2" height="17" valign="bottom">
<p><font size="2" face="Arial">Gas</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
8,242</font></p>
</td>
</tr>

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

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap colspan="2" height="17" valign="bottom">
<p><b><font size="2" face="Arial">Total property, plant, and
equipment (at original cost)</font></b></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><b><u><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28,759</font></u></b></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap colspan="2" height="17" valign="bottom">
<p><font size="2" face="Arial">Accumulated depreciation and
decommissioning</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><b><u><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12,754)</font></u></b></p>
</td>
</tr>

<tr height="17">
<td nowrap colspan="3" height="17" valign="bottom">
<p><b><font size="2" face="Arial">Net property, plant, and
equipment</font></b></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><b><u><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16,005</font></u></b></p>
</td>
</tr>

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

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

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap colspan="2" height="17" valign="bottom">
<p><font size="2" face="Arial">Regulatory assets</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
1,860</font></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap colspan="2" height="17" valign="bottom">
<p><font size="2" face="Arial">Nuclear decommissioning trust
funds</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1,401</font></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap colspan="2" height="17" valign="bottom">
<p><font size="2" face="Arial">Other</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><u><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
1,019</font></u></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap colspan="2" height="17" valign="bottom">
<p><b><font size="2" face="Arial">Total other noncurrent
assets</font></b></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><b><u><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
4,280</font></u></b></p>
</td>
</tr>

<tr height="18">
<td nowrap colspan="3" height="18" valign="bottom">
<p><b><font size="2" face="Arial">TOTAL ASSETS</font></b></p>
</td>
<td nowrap height="18" valign="bottom">
<p align="right"><b><u><font size="2" face="Arial">&nbsp;
$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
26,741</font></u></b></p>
</td>
</tr>

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

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

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

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

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

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

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

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

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

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap colspan="2" height="17" valign="bottom">
<p><font size="2" face="Arial">Rate reduction bonds</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
1,230</font></p>
</td>
</tr>

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

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap colspan="2" height="17" valign="bottom">
<p><font size="2" face="Arial">Deferred income taxes</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
1,524</font></p>
</td>
</tr>

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

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap colspan="2" height="17" valign="bottom">
<p><font size="2" face="Arial">Asset retirement
obligations</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
1,411</font></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap colspan="2" height="17" valign="bottom">
<p><font size="2" face="Arial">Pre-petition secured debt</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
2,789</font></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap colspan="2" height="17" valign="bottom">
<p><font size="2" face="Arial">Pre-petition liabilities</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3,919</font></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap colspan="2" height="17" valign="bottom">
<p><font size="2" face="Arial">Pre-petition financing
debt</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
5,672</font></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap colspan="2" height="17" valign="bottom">
<p><font size="2" face="Arial">Other liabilities</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><u><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
3,217</font></u></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap colspan="2" height="17" valign="bottom">
<p><b><font size="2" face="Arial">Total liabilities</font></b></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><b><u><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21,331</font></u></b></p>
</td>
</tr>

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

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

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

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

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

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

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

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

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

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

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap colspan="2" height="17" valign="bottom">
<p><font size="2" face="Arial">Reinvested earnings (Accumulated
deficit)</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
1,469</font></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap colspan="2" height="17" valign="bottom">
<p><font size="2" face="Arial">Accumulated other comprehnsive
loss</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(60)</font></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap colspan="2" height="17" valign="bottom">
<p><b><font size="2" face="Arial">Total stockholders'
equity</font></b></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><b><u><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5,273</font></u></b></p>
</td>
</tr>

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

<tr height="18">
<td nowrap colspan="3" height="18" valign="bottom">
<p><b><font size="2" face="Arial">TOTAL LIABILITIES AND
STOCKHOLDERS' EQUITY</font></b></p>
</td>
<td nowrap height="18" valign="bottom">
<p align="right"><b><u><font size="2" face="Arial">&nbsp;
$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
26,741</font></u></b></p>
</td>
</tr>
</table>

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

<table border="0" cellspacing="0" cellpadding="0" width="567">
<tr height="17">
<td nowrap colspan="3" height="17" valign="bottom">
<p align="center"><b><font size="2" face="Arial">PACIFIC GAS AND
ELECTRIC COMPANY</font></b></p>
</td>
</tr>

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

<tr height="17">
<td nowrap colspan="3" height="17" valign="bottom">
<p align="center"><b><font size="2" face="Arial">AS OF AUGUST 31,
2003</font></b></p>
</td>
</tr>

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

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

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

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

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

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

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

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

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

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

<table border="0" cellspacing="0" cellpadding="0" width="712">
<tr height="17">
<td nowrap colspan="4" height="17" valign="bottom">
<p align="center"><b><font size="2" face="Arial">PACIFIC GAS AND
ELECTRIC COMPANY</font></b></p>
</td>
</tr>

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

<tr height="17">
<td nowrap colspan="4" height="17" valign="bottom">
<p align="center"><b><font size="2" face="Arial">FOR THE MONTH
ENDED AUGUST 31, 2003</font></b></p>
</td>
</tr>

<tr height="17">
<td nowrap colspan="4" height="17" valign="bottom">
<p align="center"><b><font size="2" face="Arial">AND THE
TWENTY-NINE MONTHS ENDED AUGUST 31, 2003</font></b></p>
</td>
</tr>

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

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

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

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

<tr height="17">
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom">
<p align="center"><b><font size="2" face="Arial">August 31,
2003</font></b></p>
</td>
<td height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom">
<p align="center"><b><font size="2" face="Arial">August 31,
2003</font></b></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom">
<p><font size="2" face="Arial">OPERATING REVENUES</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face="Arial">&nbsp;
$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
1,050</font></p>
</td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face="Arial">&nbsp;
$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
25,342</font></p>
</td>
</tr>

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

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

<tr height="17">
<td nowrap height="17" valign="bottom">
<p><font size="2" face="Arial">Cost of Electric Energy</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
240</font></p>
</td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
3,510</font></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom">
<p><font size="2" face="Arial">Cost of Gas</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
92</font></p>
</td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
2,864</font></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom">
<p><font size="2" face="Arial">Operating and Maintenance</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp; 207</font></p>
</td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
6,739</font></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom">
<p><font size="2" face="Arial">Depreciation, Decommissioning, and
Amortization</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><u><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
104</font></u></p>
</td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom">
<p align="right"><u><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
2,682</font></u></p>
</td>
</tr>

<tr height="17">
<td nowrap height="17" valign="bottom">
<p><font size="2" face="Arial">Total Operating Expenses</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><u><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
643</font></u></p>
</td>
<td nowrap height="17" valign="bottom">
<p><u><font size="2" face="Arial">&nbsp;</font></u></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><u><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
15,795</font></u></p>
</td>
</tr>

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

<tr height="17">
<td nowrap height="17" valign="bottom">
<p><font size="2" face="Arial">OPERATING INCOME (LOSS)</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><u><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 407</font></u></p>
</td>
<td nowrap height="17" valign="bottom">
<p><u><font size="2" face="Arial">&nbsp;</font></u></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><u><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
9,547</font></u></p>
</td>
</tr>

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

<tr height="17">
<td nowrap height="17" valign="bottom">
<p><font size="2" face="Arial">Interest Income (Expense)</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(69)</font></p>
</td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(2,128)</font></p>
</td>
</tr>

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

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

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

<tr height="17">
<td nowrap height="17" valign="bottom">
<p><font size="2" face="Arial">PRE-TAX INCOME (LOSS)</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><u><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
337</font></u></p>
</td>
<td nowrap height="17" valign="bottom">
<p><u><font size="2" face="Arial">&nbsp;</font></u></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><u><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
7,350</font></u></p>
</td>
</tr>

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

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

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

<tr height="17">
<td nowrap height="17" valign="bottom">
<p><font size="2" face="Arial">EARNINGS (LOSS)</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
205</font></p>
</td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
4,541</font></p>
</td>
</tr>

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

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

<tr height="17">
<td nowrap height="17" valign="bottom">
<p><font size="2" face="Arial">Cumulative Effect of Change in
Accounting Principle</font></p>
</td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
-</font></p>
</td>
<td nowrap height="17" valign="bottom"></td>
<td nowrap height="17" valign="bottom">
<p align="right"><font size="2" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
1</font></p>
</td>
</tr>

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

<tr height="18">
<td nowrap height="18" valign="bottom">
<p><font size="2" face="Arial">EARNINGS (LOSS) AVAILABLE FOR
(ALLOCATED TO) COMMON STOCK</font></p>
</td>
<td nowrap height="18" valign="bottom">
<p align="right"><u><font size="2" face="Arial">&nbsp;
$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
203</font></u></p>
</td>
<td nowrap height="18" valign="bottom">
<p><u><font size="2" face="Arial">&nbsp;</font></u></p>
</td>
<td nowrap height="18" valign="bottom">
<p align="right"><u><font size="2" face="Arial">&nbsp;
$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
4,480</font></u></p>
</td>
</tr>
</table>

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

<table border="0" cellspacing="0" cellpadding="0" width="681">
<tr height="17">
<td nowrap colspan="3" height="17" valign="top">
<p align="center"><b><font size="2" face="Arial">PACIFIC GAS AND
ELECTRIC COMPANY</font></b></p>
</td>
</tr>

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

<tr height="17">
<td nowrap colspan="3" height="17" valign="bottom">
<p align="center"><b><font size="2" face="Arial">FOR THE MONTH
ENDED AUGUST 31, 2003</font></b></p>
</td>
</tr>

<tr height="17">
<td nowrap colspan="3" height="17" valign="bottom">
<p align="center"><b><font size="2" face="Arial">AND THE
TWENTY-NINE MONTHS ENDED AUGUST 31, 2003</font></b></p>
</td>
</tr>

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

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

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

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

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

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

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

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

<tr height="34">
<td nowrap height="34" valign="top"></td>
<td nowrap height="34" valign="top"></td>
<td height="34" valign="top">
<p><font size="2" face="Arial">The results for the month of August
2003 are not indicative of future earnings.&nbsp; Future earnings
could differ materially.</font></p>
</td>
</tr>

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

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

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

<tr height="34">
<td nowrap height="34" valign="top">
<p><font size="2" face="Arial">4</font></p>
</td>
<td nowrap height="34" valign="top"></td>
<td height="34" valign="top">
<p><font size="2" face="Arial">Case to date results reflect the
entire twenty-nine month period ended August 31, 2003.&nbsp; The
bankruptcy petition date is April 6, 2001.</font></p>
</td>
</tr>
</table>

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


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