EXHIBIT 12.1

PACIFIC GAS AND ELECTRIC COMPANY

COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES

		Three Months Ended September 30,				Nine Months Ended September 30,				Year Ended December 31,
		2009				2009				2008				2007				2006				2005				2004
Earnings:
Income from continuing operations		$	353			$	983			$	1,199			$	1,024			$	985			$	934			$	3,982
Income taxes provision			111				374				488				571				602				574				2,561
Net fixed charges			204				621				860				889				801				589				695
Total Earnings		$	668			$	1,978			$	2,547			$	2,484			$	2,388			$	2,097			$	7,238
Fixed Charges:
Interest and amortization of premiums, discounts and capitalized expenses related to short-term borrowings and long-term debt, net		$	188			$	573			$	794			$	834			$	770			$	573			$	682
Interest on capital leases			5				15				22				23				11				1				1
AFUDC debt			11				33				44				32				20				15				12
Total Fixed Charges		$	204			$	621			$	860			$	889			$	801			$	589			$	695
Ratios of Earnings to Fixed Charges			3.27				3.19				2.96				2.79				2.98				3.56				10.41

Note:

For the purpose of computing Pacific Gas and Electric Company’s ratios of earnings to fixed charges, “earnings” represent income from continuing operations adjusted for income taxes and fixed charges (excluding capitalized interest).  “Fixed charges” include interest on long-term debt and short-term borrowings (including a representative portion of rental expense), amortization of bond premium, discount and expense, interest on capital leases, and AFUDC debt.  Fixed charges exclude interest on tax liabilities in accordance with the Income Tax Topic of the FASB ASC.