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<title>PG&amp;E&rsquo;S GRC</title>
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<p align="center">SECURITIES AND EXCHANGE COMMISSION</p>
</td>
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<td colspan="4" valign="top">
<p align="center"><br />
 </p>
</td>
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<td colspan="4" valign="top">
<p align="center">Washington, D.C.&nbsp; 20549</p>
</td>
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<td colspan="4" valign="top">
<p align="center"><br />
<br />
 </p>
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<tr>
<td colspan="4" valign="top">
<p align="center">FORM 8-K</p>
</td>
</tr>

<tr>
<td colspan="4" valign="top">
<p align="center"><br />
 </p>
</td>
</tr>

<tr>
<td colspan="4" valign="top">
<p align="center">CURRENT REPORT</p>
</td>
</tr>

<tr>
<td colspan="4" valign="top">
<p align="center"><br />
 </p>
</td>
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<tr>
<td colspan="4" valign="top">
<p align="center">Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934</p>
</td>
</tr>

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<td colspan="4" valign="top">
<p align="center"><br />
 </p>
</td>
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<td colspan="4" valign="top">
<p align="center">Date of Report: May 21, 2002</p>
</td>
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<td colspan="4" valign="top">
<p align="center"><br />
 </p>
</td>
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<td colspan="4" valign="top"></td>
</tr>

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

<tr>
<td valign="top">
<p align="center">_____________</p>
</td>
<td valign="top">
<p align="center">_____________</p>
</td>
<td valign="top">
<p align="center">_____________</p>
</td>
<td valign="top">
<p align="center">_____________</p>
</td>
</tr>

<tr>
<td valign="top">
<p align="center">1-12609</p>

<p align="center">1-2348</p>
</td>
<td valign="top">
<p align="center">PG&amp;E Corporation</p>

<p align="center">Pacific Gas and<br />
 Electric Company</p>
</td>
<td valign="top">
<p align="center">California</p>

<p align="center">California</p>
</td>
<td valign="top">
<p align="center">94-3234914</p>

<p align="center">94-0742640</p>

<p align="center"><br />
 </p>
</td>
</tr>

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

<tr>
<td colspan="4" valign="top"></td>
</tr>

<tr>
<td colspan="4" valign="top">
<p align="center">(Address of principal executive offices) (Zip
Code)</p>
</td>
</tr>

<tr>
<td valign="top">
<p align="center"><br />
 </p>
</td>
<td valign="top"></td>
<td valign="top"></td>
<td valign="top"></td>
</tr>

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

<tr>
<td colspan="4" valign="top"></td>
</tr>

<tr>
<td colspan="4" valign="top">
<p align="center">(Registrant's telephone number, including area
code)</p>
</td>
</tr>

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

<p><br />
</p>

<div align="center">
<hr size="2" width="100%" align="center" />
</div>

<p><br />
Item 5. Other Events</p>

<p>Pacific Gas and Electric Company Bankruptcy</p>

<p>A. Payment of Interest<br />
</p>

<p>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
As previously disclosed, on March 27, 2002, the U.S. Bankruptcy
Court for the Northern District of California (Bankruptcy Court)
issued an order authorizing Pacific Gas and Electric Company
(Utility) to pay pre- and post-petition interest to holders of
certain undisputed claims, including commercial paper, senior
notes, floating rate notes, medium term notes, 7.90 % Cumulative
Quarterly Income Preferred Securities (QUIPS), prior bond claims,
revolving line of credit claims, trade creditors, and certain other
general unsecured creditors.&nbsp;&nbsp; Pursuant to the
court&rsquo;s order, the Utility was required to make an initial
payment of pre- and post-petition interest to holders of financial
debt (excluding trade creditors and certain other general unsecured
creditors) within ten days after Bankruptcy Court approval of the
disclosure statement related to the Utility&rsquo;s proposed Plan
of Reorganization.&nbsp; The Bankruptcy Court approved the
disclosure statement related to the Plan on April 24, 2002.</p>

<p>On May 6, 2002, the Utility paid approximately $420 million in
pre- and post- petition interest to all holders of the
Utility&rsquo;s commercial paper, senior notes, floating rate
notes, medium term notes, Southern San Joaquin Valley Power
Authority Bonds, QUIPS, revolving line of credit claims, and
certain other claims, for the period ending February 28,
2002.&nbsp;&nbsp; Details of this interest payment can be found on
PG&amp;E Corporation&rsquo;s website at:
http://www.pgecorp.com/financial/creditorsinfo/index.html.</p>

<p>On May 20, 2002, the Utility announced that on May 31, 2002, it
will make another interest payment totaling approximately $34
million to holders of such financial debt as of May 30, 2002, for
interest accrued from March 1, 2002 through March 31, 2002.&nbsp;
Thereafter, interest payments will be made quarterly on July 1,
October 1, January 1, and April 1.</p>

<p>The Utility will make the first payment of pre- and
post-petition interest to the Utility&rsquo;s trade creditors and
certain other general unsecured creditors on or about July 30, 2002
for interest accrued through June 30, 2002 and on a quarterly basis
thereafter.&nbsp; The record date for the interest payment is June
30, 2002.</p>

<p>The Utility expects that payments made to creditors pursuant to
the Bankruptcy Court&rsquo;s authorization will total approximately
$700 million by July 30, 2002.&nbsp; The actual amount paid may be
different, depending on the amount of claims ultimately allowed by
the Bankruptcy Court.</p>

<p>As the Utility has been accruing interest on its pre-and
post-petition debt at the approved rates, the payment of such
interest is not expected to have an adverse material impact on its
financial condition or results of operation.</p>

<p>B. Schedule</p>

<p>On May 15, 2002, the Bankruptcy Court approved the disclosure
statement relating to the California Public Utilities Commission
(CPUC)&rsquo;s proposed alternative plan of
reorganization.&nbsp;&nbsp; The Bankruptcy Court has previously set
June 17, 2002 as the date to begin solicitation of the competing
plans.&nbsp; The Bankruptcy Court has determined that only holders
of record of claims or equity interests as of May 21, 2002 that are
otherwise entitled to vote under the Plan will receive a ballot and
that all ballots must be received by the voting agent by August 12,
2002.&nbsp; The Bankruptcy Court also ordered that all objections
to confirmation of either plan be filed by July 17,
2002.&nbsp;&nbsp; The Bankruptcy Court also determined that the
hearing to consider confirmation of a plan will begin with a status
conference on August 1, 2002 and that the confirmation hearing will
be continued from time to time thereafter without further
notice.&nbsp;&nbsp;</p>

<br clear="all" />


<p>&nbsp;</p>

<p><br />
</p>

<table border="0" cellspacing="0" cellpadding="0">
<tr>
<td valign="top">
<p>SIGNATURE</p>
</td>
</tr>
</table>

<p>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>

<table border="0" cellspacing="0" cellpadding="0">
<tr>
<td valign="top">
<p>&nbsp;</p>
</td>
<td valign="top">
<p>PG&amp;E CORPORATION<br />
 </p>
</td>
</tr>

<tr>
<td valign="top">
<p>&nbsp;</p>
</td>
<td valign="top">
<p>By:&nbsp; LINDA Y.H. CHENG</p>
</td>
</tr>

<tr>
<td valign="top">
<p>&nbsp;</p>
</td>
<td valign="top">
<p>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></p>
</td>
</tr>

<tr>
<td valign="top">
<p>&nbsp;</p>
</td>
<td valign="top">
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;LINDA Y.H. CHENG<br />
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Corporate
Secretary<br />
<br />
 </p>
</td>
</tr>

<tr>
<td valign="top">
<p>&nbsp;</p>
</td>
<td valign="top"></td>
</tr>

<tr>
<td valign="top">
<p>&nbsp;</p>
</td>
<td valign="top">
<p>PACIFIC GAS AND ELECTRIC COMPANY<br />
 </p>
</td>
</tr>

<tr>
<td valign="top">
<p>&nbsp;</p>
</td>
<td valign="top">
<p>By:&nbsp;&nbsp;DINYAR B. MISTRY</p>
</td>
</tr>

<tr>
<td valign="top">
<p>&nbsp;</p>
</td>
<td valign="top">
<p>&nbsp;&nbsp; &nbsp; <u>&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></p>
</td>
</tr>

<tr>
<td valign="top">
<p>&nbsp;</p>
</td>
<td valign="top">
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DINYAR B. MISTRY<br />
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vice President and Controller</p>
</td>
</tr>
</table>

<p>Dated:&nbsp; May 20, 2002</p>

<p>S:\DISCLOSE\8-K-02\5-02\5-21final.doc</p>
</div>
</body>
</html>
[{"type": "8-K", "sequence": "1", "filename": "final521.htm", "description": "FORM 8-K", "secsgml_size_bytes": 10299}]
{"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": "02658783"}, "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"}}
PG&E'S GRC
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: May 21, 2002
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
Pacific Gas and Electric Company Bankruptcy
A. Payment of Interest
As previously disclosed, on March 27, 2002, the U.S. Bankruptcy
Court for the Northern District of California (Bankruptcy Court)
issued an order authorizing Pacific Gas and Electric Company
(Utility) to pay pre- and post-petition interest to holders of
certain undisputed claims, including commercial paper, senior
notes, floating rate notes, medium term notes, 7.90 % Cumulative
Quarterly Income Preferred Securities (QUIPS), prior bond claims,
revolving line of credit claims, trade creditors, and certain other
general unsecured creditors.   Pursuant to the
court's order, the Utility was required to make an initial
payment of pre- and post-petition interest to holders of financial
debt (excluding trade creditors and certain other general unsecured
creditors) within ten days after Bankruptcy Court approval of the
disclosure statement related to the Utility's proposed Plan
of Reorganization.  The Bankruptcy Court approved the
disclosure statement related to the Plan on April 24, 2002.
On May 6, 2002, the Utility paid approximately $420 million in
pre- and post- petition interest to all holders of the
Utility's commercial paper, senior notes, floating rate
notes, medium term notes, Southern San Joaquin Valley Power
Authority Bonds, QUIPS, revolving line of credit claims, and
certain other claims, for the period ending February 28,
2002.   Details of this interest payment can be found on
PG&E Corporation's website at:
http://www.pgecorp.com/financial/creditorsinfo/index.html.
On May 20, 2002, the Utility announced that on May 31, 2002, it
will make another interest payment totaling approximately $34
million to holders of such financial debt as of May 30, 2002, for
interest accrued from March 1, 2002 through March 31, 2002. 
Thereafter, interest payments will be made quarterly on July 1,
October 1, January 1, and April 1.
The Utility will make the first payment of pre- and
post-petition interest to the Utility's trade creditors and
certain other general unsecured creditors on or about July 30, 2002
for interest accrued through June 30, 2002 and on a quarterly basis
thereafter.  The record date for the interest payment is June
30, 2002.
The Utility expects that payments made to creditors pursuant to
the Bankruptcy Court's authorization will total approximately
$700 million by July 30, 2002.  The actual amount paid may be
different, depending on the amount of claims ultimately allowed by
the Bankruptcy Court.
As the Utility has been accruing interest on its pre-and
post-petition debt at the approved rates, the payment of such
interest is not expected to have an adverse material impact on its
financial condition or results of operation.
B. Schedule
On May 15, 2002, the Bankruptcy Court approved the disclosure
statement relating to the California Public Utilities Commission
(CPUC)'s proposed alternative plan of
reorganization.   The Bankruptcy Court has previously set
June 17, 2002 as the date to begin solicitation of the competing
plans.  The Bankruptcy Court has determined that only holders
of record of claims or equity interests as of May 21, 2002 that are
otherwise entitled to vote under the Plan will receive a ballot and
that all ballots must be received by the voting agent by August 12,
2002.  The Bankruptcy Court also ordered that all objections
to confirmation of either plan be filed by July 17,
2002.   The Bankruptcy Court also determined that the
hearing to consider confirmation of a plan will begin with a status
conference on August 1, 2002 and that the confirmation hearing will
be continued from time to time thereafter without further
notice.
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
By:  LINDA Y.H. CHENG
LINDA Y.H. CHENG
Corporate
Secretary
PACIFIC GAS AND ELECTRIC COMPANY
By:  DINYAR B. MISTRY
DINYAR B. MISTRY
Vice President and Controller
Dated:  May 20, 2002
S:\DISCLOSE\8-K-02\5-02\5-21final.doc