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:  July 16, 1998



		Exact Name of          
Commission      Registrant      State or other  IRS Employer
File            as specified    Jurisdiction of Identification
Number          in its charter  Incorporation   Number
-----------     --------------  --------------- --------------

1-12609         PG&E Corporation   California      94-3234914

1-2348          Pacific Gas and    California      94-0742640
		Electric Company




Pacific Gas and Electric Company   PG&E Corporation
77 Beale Street, P.O. Box 770000   One Market, Spear Tower, Suite 2400
San Francisco, California  94177   San Francisco, California 94105 
		 
(Address of principal executive offices)        (Zip Code)

   
Pacific Gas and Electric Company         PG&E Corporation
    (415) 973-7000                        (415) 267-7000

	(Registrant's telephone number, including area code)

<PAGE>

Item 5.  Other Events

A.  Second Quarter 1998 Consolidated Earnings (unaudited)

On July 15, 1998, PG&E Corporation reported earnings per common share 
of $.46 for the three months ended June 30, 1998.  Financial results 
for the three months ended June 30, 1998 are shown below:


		      Three Months Ended June 30, 1998 
=================================================================
				
			  (unaudited)(1)

Earnings Per Common Share:
  Pacific Gas and Electric Company (Utility)         $ 0.48           
  Unregulated Business Operations(2)                  (0.02)          
						      --------      
PG&E Corporation                                     $ 0.46           
						     =========        
   
(1)  In the opinion of management, the unaudited financial information 
presented above reflects all adjustments to date which are necessary 
to present a fair statement of earnings per common share for the 
period.  This information should be read in conjunction with the 1997 
Consolidated Financial Statements and Notes to Consolidated Financial 
Statements incorporated by reference in the Annual Report on Form 10-K 
for PG&E Corporation and Pacific Gas and Electric Company, and the  
Consolidated Financial Statements and Notes to Consolidated Financial 
Statements in the Quarterly Report on Form 10-Q for the quarter ended 
March 31, 1998 for PG&E Corporation and Pacific Gas and Electric 
Company.

(2)  Unregulated Business Operations includes those business 
activities that are not directly regulated by the California Public 
Utilities Commission.    

<PAGE>
			     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
				 and
			  PACIFIC GAS AND ELECTRIC COMPANY


				CHRISTOPHER P. JOHNS
			  By ________________________________
				CHRISTOPHER P. JOHNS
				Vice President and Controller
				(PG&E Corporation)
				Vice President and Controller
				(Pacific Gas and Electric Company)

Dated: July 16, 1998



 



 

 





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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:  July 16, 1998

		Exact Name of          
Commission      Registrant      State or other  IRS Employer
File            as specified    Jurisdiction of Identification
Number          in its charter  Incorporation   Number
-----------     --------------  --------------- --------------

1-12609         PG&E Corporation   California      94-3234914

1-2348          Pacific Gas and    California      94-0742640
		Electric Company

Pacific Gas and Electric Company   PG&E Corporation
77 Beale Street, P.O. Box 770000   One Market, Spear Tower, Suite 2400
San Francisco, California  94177   San Francisco, California 94105 
		 
(Address of principal executive offices)        (Zip Code)

   
Pacific Gas and Electric Company         PG&E Corporation
    (415) 973-7000                        (415) 267-7000

	(Registrant's telephone number, including area code)
Item 5.  Other Events

A.  Second Quarter 1998 Consolidated Earnings (unaudited)

On July 15, 1998, PG&E Corporation reported earnings per common share 
of $.46 for the three months ended June 30, 1998.  Financial results 
for the three months ended June 30, 1998 are shown below:

		      Three Months Ended June 30, 1998 
=================================================================
				
			  (unaudited)(1)

Earnings Per Common Share:
  Pacific Gas and Electric Company (Utility)         $ 0.48           
  Unregulated Business Operations(2)                  (0.02)          
						      --------      
PG&E Corporation                                     $ 0.46           
						     =========        
   
(1)  In the opinion of management, the unaudited financial information 
presented above reflects all adjustments to date which are necessary 
to present a fair statement of earnings per common share for the 
period.  This information should be read in conjunction with the 1997 
Consolidated Financial Statements and Notes to Consolidated Financial 
Statements incorporated by reference in the Annual Report on Form 10-K 
for PG&E Corporation and Pacific Gas and Electric Company, and the  
Consolidated Financial Statements and Notes to Consolidated Financial 
Statements in the Quarterly Report on Form 10-Q for the quarter ended 
March 31, 1998 for PG&E Corporation and Pacific Gas and Electric 
Company.

(2)  Unregulated Business Operations includes those business 
activities that are not directly regulated by the California Public 
Utilities Commission.
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
				 and
			  PACIFIC GAS AND ELECTRIC COMPANY

				CHRISTOPHER P. JOHNS
			  By ________________________________
				CHRISTOPHER P. JOHNS
				Vice President and Controller
				(PG&E Corporation)
				Vice President and Controller
				(Pacific Gas and Electric Company)

Dated: July 16, 1998

 

 

 

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