<html>
<head>
<title>Form 8-K Dated April 7, 2004</title>
</head>
<body link="blue" vlink="purple">
<div>
<div align="center">
<table border="0" cellspacing="0" cellpadding="0">
<tr>
<td colspan="4" valign="top">
<p align="center"><font size="3" face="Times New Roman">SECURITIES
AND EXCHANGE COMMISSION</font></p>
</td>
</tr>

<tr>
<td colspan="4" valign="top">
<p><font size="3" face="Times New Roman"><br />
 </font></p>
</td>
</tr>

<tr>
<td colspan="4" valign="top">
<p align="center"><font size="3" face="Times New Roman">Washington,
D.C.&nbsp; 20549</font></p>
</td>
</tr>

<tr>
<td colspan="4" valign="top">
<p><font size="3" face="Times New Roman"><br />
 </font></p>
</td>
</tr>

<tr>
<td colspan="4" valign="top">
<p align="center"><font size="3" face="Times New Roman">FORM
8-K</font></p>
</td>
</tr>

<tr>
<td colspan="4" valign="top">
<p><font size="3" face="Times New Roman"><br />
 </font></p>
</td>
</tr>

<tr>
<td colspan="4" valign="top">
<p align="center"><font size="3" face="Times New Roman">CURRENT
REPORT</font></p>
</td>
</tr>

<tr>
<td colspan="4" valign="top">
<p><font size="3" face="Times New Roman"><br />
 </font></p>
</td>
</tr>

<tr>
<td colspan="4" valign="top">
<p align="center"><font size="3" face="Times New Roman">Pursuant to
Section 13 or 15(d) of the Securities Exchange Act of
1934</font></p>
</td>
</tr>

<tr height="43">
<td colspan="4" height="43" valign="top">
<p><font size="3" face="Times New Roman"><br />
 </font></p>
</td>
</tr>

<tr>
<td colspan="4" valign="top">
<p align="center"><font size="3" face="Times New Roman">Date of
Report: April 7, 2004</font></p>
</td>
</tr>

<tr>
<td colspan="4" valign="top">
<p><font size="3" face="Times New Roman"><br />
 </font></p>
</td>
</tr>

<tr>
<td colspan="4" valign="top">
<p><font size="3" face=
"Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
</tr>

<tr>
<td valign="top">
<p align="center"><font size="3" face="Times New Roman"><br />
 Commission<br />
 File<br />
 Number</font></p>
</td>
<td valign="top">
<p align="center"><font size="3" face="Times New Roman">Exact Name
of<br />
 Registrant<br />
 as specified in<br />
 its charter</font></p>
</td>
<td valign="top">
<p align="center"><font size="3" face="Times New Roman"><br />
 State or other<br />
 Jurisdiction of<br />
 Incorporation</font></p>
</td>
<td valign="top">
<p align="center"><font size="3" face="Times New Roman"><br />
 IRS Employer<br />
 &nbsp; Identification<br />
 Number</font></p>
</td>
</tr>

<tr>
<td valign="top">
<p align="center"><font size="3" face=
"Times New Roman">_____________</font></p>
</td>
<td valign="top">
<p align="center"><font size="3" face=
"Times New Roman">_____________</font></p>
</td>
<td valign="top">
<p align="center"><font size="3" face=
"Times New Roman">_____________</font></p>
</td>
<td valign="top">
<p align="center"><font size="3" face=
"Times New Roman">_____________</font></p>
</td>
</tr>

<tr>
<td valign="top">
<p align="center"><font size="3" face=
"Times New Roman">1-12609<br />
 </font></p>

<p align="center"><font size="3" face=
"Times New Roman">1-2348</font></p>
</td>
<td valign="top">
<p align="center"><font size="3" face="Times New Roman">PG&amp;E
Corporation<br />
 </font></p>

<p align="center"><font size="3" face="Times New Roman">Pacific Gas
and<br />
 Electric Company</font></p>
</td>
<td valign="top">
<p align="center"><font size="3" face=
"Times New Roman">California<br />
 </font></p>

<p align="center"><font size="3" face=
"Times New Roman">California</font></p>
</td>
<td valign="top">
<p align="center"><font size="3" face=
"Times New Roman">94-3234914<br />
 </font></p>

<p align="center"><font size="3" face=
"Times New Roman">94-0742640</font></p>

<p align="center"><font size="3" face="Times New Roman"><br />
 </font></p>
</td>
</tr>

<tr>
<td valign="top">
<p align="center"><font size="3" face=
"Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
<td valign="top"></td>
<td valign="top"></td>
<td valign="top"></td>
</tr>

<tr>
<td colspan="2" valign="top">
<p align="center"><font size="3" face="Times New Roman">Pacific Gas
and Electric
Company&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br />
 77 Beale Street, P. O. Box
770000&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br />
 San Francisco,
California&nbsp;&nbsp;94177&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
<td colspan="2" valign="top">
<p align="center"><font size="3" face="Times New Roman">PG&amp;E
Corporation<br />
 One Market, Spear Tower, Suite 2400<br />
 San Francisco, California&nbsp;&nbsp;94105</font></p>
</td>
</tr>

<tr>
<td colspan="4" valign="top">
<p><font size="3" face="Times New Roman"></font></p>

<p><font size="3" face=
"Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
</tr>

<tr>
<td colspan="4" valign="top">
<p align="center"><font size="3" face="Times New Roman">(Address of
principal executive offices) (Zip Code)</font></p>
</td>
</tr>

<tr>
<td valign="top">
<p align="center"><font size="3" face="Times New Roman"><br />
 </font></p>
</td>
<td valign="top"></td>
<td valign="top"></td>
<td valign="top"></td>
</tr>

<tr>
<td colspan="2" valign="top">
<p align="center"><font size="3" face="Times New Roman">Pacific Gas
and Electric Company<br />
 (415) 973-7000</font></p>
</td>
<td colspan="2" valign="top">
<p align="center"><font size="3" face="Times New Roman">PG&amp;E
Corporation<br />
 (415) 267-7000</font></p>
</td>
</tr>

<tr>
<td colspan="4" valign="top">
<p align="center"><font size="3" face=
"Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
</tr>

<tr>
<td colspan="4" valign="top">
<p align="center"><font size="3" face=
"Times New Roman">(Registrant's telephone number, including area
code)</font></p>
</td>
</tr>

<tr>
<td valign="top">
<p><font size="3" face=
"Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
<td valign="top"></td>
<td valign="top"></td>
<td valign="top"></td>
</tr>
</table>
</div>
</div>

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

<div>
<div align="center"><font size="3" face="Times New Roman"></font>
<hr size="2" width="100%" align="center" />
</div>

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

<p><font size="3" face="Times New Roman">Item 5.&nbsp;&nbsp;Other
Events and Regulation FD Disclosure</font></p>

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

<p><font size="3" face="Times New Roman">A.&nbsp;&nbsp;Pacific Gas
and Electric Company&rsquo;s 2003 General Rate Case</font></p>

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

<p><font size="3" face=
"Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
April 6, 2004, a proposed decision was issued in Pacific Gas and
Electric Company&rsquo;s (Utility) 2003 general rate case (GRC)
pending at the California Public Utilities Commission (CPUC).&nbsp;
The 2003 GRC determines the amount of authorized base revenues the
Utility can collect from customers to recover its basic business
and operational costs for electricity and natural gas distribution
operations and for electricity generation operations for 2003 and
succeeding years.&nbsp; The administrative law judge&rsquo;s (ALJ)
proposed decision would approve the July 2003 and September 2003
settlement agreements reached among the Utility and various
consumer groups to set the Utility&rsquo;s 2003 revenue
requirements for its electricity generation and electricity and
natural gas distribution operations.&nbsp; The proposed decision
would approve the terms of the settlement agreements that provide
for an attrition adjustment in 2004, 2005 and 2006 based on changes
in the Consumer Price Index (CPI), except the ALJ recommends that
the settlement agreements be modified to delete the provision for a
minimum attrition adjustment amount in each year.</font></p>

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

<p><font size="3" face=
"Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
the proposed decision is adopted by the CPUC the Utility&rsquo;s
total 2003 revenue requirements, as provided in the settlement
agreements, would be set at approximately:</font></p>

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

<ul>
  <li>$2.5 billion for electric distribution operations, representing
a $236 million increase over the current authorized
amount;&nbsp;</li>
  <li>$927 million for natural gas distribution operations,
representing a $52 million increase over the current authorized
amount; and</li>
  <li>$912 million for electricity generation operations, representing
a $38 million increase over the current authorized amount.</li>
</ul>

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

<p><font size="3" face=
"Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
addition, under the proposed decision, if the Utility forecasts a
second refueling outage at the Diablo Canyon nuclear power plant in
any one year the generation revenue requirement would be increased
to reflect a fixed revenue requirement of $32 million</font> per
refueling outage, adjusted for changes in the CPI in the manner
described in the proposed decision.&nbsp;</p>

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

<p><font size="3" face="Times">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The proposed minimum attrition
adjustments for electricity and natural gas distribution revenue
requirements for 2004, 2005 and 2006 are 2.00 percent, 2.25 percent
and 3.00 percent, respectively.&nbsp; The proposed minimum
attrition adjustments for electricity generation revenue
requirements for 2004, 2005 and 2006 are 1.50 percent, 1.50 percent
and 2.50 percent, respectively. If the proposed decision is
adopted, the aggregate attrition adjustment for 2004 would be
approximately $61 million based on the actual change in the CPI of
1.4 percent.&nbsp; This would reflect&nbsp; a reduction of
approximately $21 million compared to the Utility&rsquo;s November
2003 request for approximately $82 million (excluding the $32
million allowance for a second refueling outage in 2004) based on
the proposed minimum attrition adjustments.&nbsp; If the proposed
decision is adopted and the actual changes in the CPI for 2005 and
2006 are less than the proposed minimum attrition adjustment
amounts for those years, the actual attrition adjustment amounts in
2005 and 2006 would be less than the amounts would have been under
the settlement agreements.</font></p>

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

<p><font size="3" face=
"Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
proposed decision also would authorize the establishment of new
balancing accounts, effective January 1, 2004, to ensure that the
Utility recovers its authorized revenue requirements regardless of
the level of sales.&nbsp;</font></p>

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

<p><font size="3" face=
"Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
proposed decision would reject the Utility&rsquo;s request for
approximately $75 million in additional revenue requirements to
fund a pension contribution.</font></p>

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

<p><font size="3" face=
"Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
adopted, the proposed decision would be retroactive to
January&nbsp;1, 2003.&nbsp; Comments on the proposed decision are
due on April 26, 2004 and reply comments are due on May 3,
2004.&nbsp; PG&amp;E Corporation and the Utility are unable to
predict whether the proposed decision will be adopted by the
CPUC.&nbsp; If the CPUC does not approve the settlement agreements,
the Utility&rsquo;s ability to earn its authorized rate of return
for the years until the next GRC would be adversely
affected.</font></p>

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

<p><font size="2" face="Times New Roman"></font></p>

<p><font size="3" face="Times New Roman">B.&nbsp;&nbsp;Pacific Gas
and Electric Company&rsquo;s Chapter 11 Proceeding</font></p>

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

<p><font size="2" face=
"Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font>
<font size="3">As previously disclosed, two CPUC commissioners
filed a motion in the U.S. District Court for the Northern District
of California (District Court) seeking to stay the implementation
of the Utility&rsquo;s confirmed plan of reorganization (Plan),
pending resolution of the appeal filed by these two CPUC
commissioners of the confirmation order issued by the</font> <font
size="3">U.S. Bankruptcy Court for the Northern District of
California</font><font size="3">.&nbsp; The Utility has previously
provided notice that the Plan will become effective on April 12,
2004.</font></p>

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

<p><font size="2" face=
"Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font>
<font size="3">On April 6, 2004, the District Court informed the
parties that a hearing on the motion to stay the implementation of
the Plan would be held at 10:00 a.m. on April 9,
2004.&nbsp;</font></p>

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

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

<div align="center"><font size="3" face="Times New Roman"></font>
<hr size="2" width="100%" align="center" />
</div>

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

<div align="center">
<table border="0" cellspacing="0" cellpadding="0">
<tr>
<td valign="top">
<p align="center"><font size="3" face=
"Times New Roman">SIGNATURE</font></p>
</td>
</tr>

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

<tr>
<td valign="top">
<p><font size="3" face="Times New Roman">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.</font></p>
</td>
</tr>

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

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

<table border="0" cellspacing="0" cellpadding="0">
<tr height="86">
<td height="86" valign="top">
<p><font size="3" face=
"Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 height="86" valign="top">
<p><font size="3" face="Times New Roman">PG&amp;E CORPORATION<br />
 </font></p>
</td>
</tr>

<tr>
<td valign="top">
<p><font size="3" face=
"Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 valign="top">
<p><font size="3" face=
"Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CHRISTOPHER
P. JOHNS</font></p>
</td>
</tr>

<tr height="1">
<td height="1" valign="top"></td>
<td height="1" valign="top" bgcolor="black"></td>
</tr>

<tr>
<td valign="top">
<p><font size="3" face=
"Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 valign="top">
<p><font size="3" face=
"Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Christopher
P. Johns<br />
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Senior Vice President and
Controller</font></p>

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

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

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

<tr height="30">
<td height="30" valign="top">
<p><font size="3" face=
"Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 height="30" valign="top">
<p><font size="3" face="Times New Roman">PACIFIC GAS AND ELECTRIC
COMPANY<br />
<br />
 </font></p>

<p>&nbsp;</p>

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

<tr>
<td valign="top">
<p><font size="3" face=
"Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 valign="top">
<p><font size="3" face=
"Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DINYAR
B. MISTRY</font></p>
</td>
</tr>

<tr height="1">
<td height="1" valign="top"></td>
<td height="1" valign="top" bgcolor="black"></td>
</tr>

<tr>
<td valign="top">
<p><font size="3" face=
"Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 valign="top">
<p><font size="3" face=
"Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dinyar
B. Mistry<br />
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vice President and
Controller</font></p>
</td>
</tr>

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

<tr>
<td valign="top">
<p><font size="3" face="Times New Roman">Dated:&nbsp; April 7,
2004</font></p>
</td>
<td valign="top"></td>
</tr>
</table>

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

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

<p><font size="3" face="Times New Roman"></font></p>
</div>
</body>
</html>
[{"type": "8-K", "sequence": "1", "filename": "final040704.htm", "description": "FORM 8-K", "secsgml_size_bytes": 19077}]
{"company-data": {"conformed-name": "PACIFIC GAS & ELECTRIC CO", "cik": "0000075488", "assigned-sic": "4931", "irs-number": "940742640", "state-of-incorporation": "CA", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-02348", "film-number": "04722441"}, "business-address": {"street1": "77 BEALE ST", "street2": "P O BOX 770000", "city": "SAN FRANCISCO", "state": "CA", "zip": "94177", "phone": "4152677000"}, "mail-address": {"street1": "77 BEALE STREET", "street2": "P O BOX 770000", "city": "SAN FRANCISCO", "state": "CA", "zip": "94177"}}
Form 8-K Dated April 7, 2004
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C.  20549
FORM
8-K
CURRENT
REPORT
Pursuant to
Section 13 or 15(d) of the Securities Exchange Act of
1934
Date of
Report: April 7, 2004
Commission
File
Number
Exact Name
of
Registrant
as specified in
its charter
State or other
Jurisdiction of
Incorporation
IRS Employer
Identification
Number
_____________
_____________
_____________
_____________
1-12609
1-2348
PG&E
Corporation
Pacific Gas
and
Electric Company
California
California
94-3234914
94-0742640
Pacific Gas
and Electric
Company
77 Beale Street, P. O. Box
770000
San Francisco,
California  94177
PG&E
Corporation
One Market, Spear Tower, Suite 2400
San Francisco, California  94105
(Address of
principal executive offices) (Zip Code)
Pacific Gas
and Electric Company
(415) 973-7000
PG&E
Corporation
(415) 267-7000
(Registrant's telephone number, including area
code)
Item 5.  Other
Events and Regulation FD Disclosure
A.  Pacific Gas
and Electric Company's 2003 General Rate Case
On
April 6, 2004, a proposed decision was issued in Pacific Gas and
Electric Company's (Utility) 2003 general rate case (GRC)
pending at the California Public Utilities Commission (CPUC). 
The 2003 GRC determines the amount of authorized base revenues the
Utility can collect from customers to recover its basic business
and operational costs for electricity and natural gas distribution
operations and for electricity generation operations for 2003 and
succeeding years.  The administrative law judge's (ALJ)
proposed decision would approve the July 2003 and September 2003
settlement agreements reached among the Utility and various
consumer groups to set the Utility's 2003 revenue
requirements for its electricity generation and electricity and
natural gas distribution operations.  The proposed decision
would approve the terms of the settlement agreements that provide
for an attrition adjustment in 2004, 2005 and 2006 based on changes
in the Consumer Price Index (CPI), except the ALJ recommends that
the settlement agreements be modified to delete the provision for a
minimum attrition adjustment amount in each year.
If
the proposed decision is adopted by the CPUC the Utility's
total 2003 revenue requirements, as provided in the settlement
agreements, would be set at approximately:
$2.5 billion for electric distribution operations, representing
a $236 million increase over the current authorized
amount;
$927 million for natural gas distribution operations,
representing a $52 million increase over the current authorized
amount; and
$912 million for electricity generation operations, representing
a $38 million increase over the current authorized amount.
In
addition, under the proposed decision, if the Utility forecasts a
second refueling outage at the Diablo Canyon nuclear power plant in
any one year the generation revenue requirement would be increased
to reflect a fixed revenue requirement of $32 million
per
refueling outage, adjusted for changes in the CPI in the manner
described in the proposed decision.
The proposed minimum attrition
adjustments for electricity and natural gas distribution revenue
requirements for 2004, 2005 and 2006 are 2.00 percent, 2.25 percent
and 3.00 percent, respectively.  The proposed minimum
attrition adjustments for electricity generation revenue
requirements for 2004, 2005 and 2006 are 1.50 percent, 1.50 percent
and 2.50 percent, respectively. If the proposed decision is
adopted, the aggregate attrition adjustment for 2004 would be
approximately $61 million based on the actual change in the CPI of
1.4 percent.  This would reflect  a reduction of
approximately $21 million compared to the Utility's November
2003 request for approximately $82 million (excluding the $32
million allowance for a second refueling outage in 2004) based on
the proposed minimum attrition adjustments.  If the proposed
decision is adopted and the actual changes in the CPI for 2005 and
2006 are less than the proposed minimum attrition adjustment
amounts for those years, the actual attrition adjustment amounts in
2005 and 2006 would be less than the amounts would have been under
the settlement agreements.
The
proposed decision also would authorize the establishment of new
balancing accounts, effective January 1, 2004, to ensure that the
Utility recovers its authorized revenue requirements regardless of
the level of sales.
The
proposed decision would reject the Utility's request for
approximately $75 million in additional revenue requirements to
fund a pension contribution.
If
adopted, the proposed decision would be retroactive to
January 1, 2003.  Comments on the proposed decision are
due on April 26, 2004 and reply comments are due on May 3,
2004.  PG&E Corporation and the Utility are unable to
predict whether the proposed decision will be adopted by the
CPUC.  If the CPUC does not approve the settlement agreements,
the Utility's ability to earn its authorized rate of return
for the years until the next GRC would be adversely
affected.
B.  Pacific Gas
and Electric Company's Chapter 11 Proceeding
As previously disclosed, two CPUC commissioners
filed a motion in the U.S. District Court for the Northern District
of California (District Court) seeking to stay the implementation
of the Utility's confirmed plan of reorganization (Plan),
pending resolution of the appeal filed by these two CPUC
commissioners of the confirmation order issued by the
U.S. Bankruptcy Court for the Northern District of
California
.  The Utility has previously
provided notice that the Plan will become effective on April 12,
2004.
On April 6, 2004, the District Court informed the
parties that a hearing on the motion to stay the implementation of
the Plan would be held at 10:00 a.m. on April 9,
2004.
SIGNATURE
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.
PG&E CORPORATION
CHRISTOPHER
P. JOHNS
Christopher
P. Johns
Senior Vice President and
Controller
PACIFIC GAS AND ELECTRIC
COMPANY
DINYAR
B. MISTRY
Dinyar
B. Mistry
Vice President and
Controller
Dated:  April 7,
2004