EXHIBIT 12.2
PACIFIC GAS AND ELECTRIC COMPANY
COMPUTATION OF RATIOS OF EARNINGS TO COMBINED
FIXED CHARGES AND PREFERRED STOCK DIVIDENDS

   
 
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  
Preferred Stock Dividends:
                                                        
Tax deductible dividends
   $ 2     $  7     $  9     $  9     $  12     $  9     $  9  
Pre-tax earnings required to cover non-tax deductible preferred stock dividend requirements
     2       4       7       8       3       12       20  
Total Preferred Stock Dividends
   $  4     $  11     $  16     $  17     $  15     $  21     $  29  
                                                         
Total Combined Fixed Charges and Preferred Stock Dividends
   $ 208     $ 632     $ 876     $ 906     $ 816     $ 610     $ 724  
                                                         
Ratios of Earnings to Combined Fixed Charges and Preferred Stock Dividends
     3.21       3.13       2.91       2.74       2.93       3.44       10.00  

Note:
For the purpose of computing Pacific Gas and Electric Company's ratios of earnings to combined fixed charges and preferred stock dividends, "earnings" represent income 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.  "Preferred stock dividends" represent tax deductible dividends and pre-tax earnings that are required to pay the dividends on the outstanding series of preferred stock.  Fixed charges exclude interest on tax liabilities in accordance with the Income Tax Topic of the FASB ASC.